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Texas Vernon's Texas Civil Statutes - Article 6259. Incorporation; Exception From Regulation

Legal Research Home > Texas Lawyer > Vernon's Texas Civil Statutes > Texas Vernon's Texas Civil Statutes - Article 6259. Incorporation; Exception From Regulation

Art. 6259. [6405] [4350] [4099] INCORPORATION;  EXCEPTION 
FROM REGULATION.  (a) Any number of persons, not less than ten, 
being subscribers to the stock of any contemplated railroad, may be 
formed into a corporation for the purpose of constructing, owning, 
maintaining and operating such railroad by complying with the 
requirements of this chapter.
	(b)  A company may elect to be incorporated under this 
chapter or under Article 2.01, Texas Business Corporation Act, if 
the company:
	(1)  operates a railroad passenger service by contracting 
with a railroad corporation or other company;  and
	(2)  does not construct, own, or maintain a railroad track.                    
	(c)  If a company described by Subsection (b) of this article 
is incorporated under Article 2.01, Texas Business Corporation Act, 
the company is not subject to regulation under this title by the 
Railroad Commission of Texas.

Acts 1876, p. 141;  G.L. vol. 8, p. 977.                                      

Amended by Acts 1989, 71st Leg., ch. 971, Sec. 1, eff. Aug. 28, 
1989.       

Last modified: August 10, 2007