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.                     

Last modified: August 10, 2007