Texas Business Organizations Code - Section 2.006. Permissible Purpose Of For-Profit Corporation Related To Railroads
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§ 2.006. PERMISSIBLE PURPOSE OF FOR-PROFIT CORPORATION
RELATED TO RAILROADS. Notwithstanding Section 2.003(2)(E), a
for-profit corporation may:
(1) construct, acquire, maintain, and operate street
railways, suburban railways, and belt lines of railways in or near
municipalities to transport freight and passengers;
(2) construct, own, and operate union depots;
(3) buy, sell, and convey rights-of-way on which to
construct railroads;
(4) construct, acquire, maintain, and operate lines of
electric, gas, or gasoline, denatured alcohol, or naphtha motor
railways in and between municipalities, and interurban railways in
and between municipalities in this state to transport freight or
passengers;
(5) build, maintain, and operate a line of railroads
to mines, gins, quarries, manufacturing plants, or mills;
(6) construct, maintain, and operate terminal
railways; or
(7) operate a railroad passenger service by
contracting with a railroad corporation or other company that does
not construct, own, or maintain a railroad track.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 1.105 1.106 2.001 2.002 2.003 2.004 2.005 2.006 2.007 2.008 2.009 2.010 2.011 2.012 2.101
Last modified: August 11, 2007
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