40-802. Articles of incorporation
The articles of a railroad corporation formed under this article shall contain:
1. Name of corporation.
2. Duration of corporation, whether permanent or for a stated term of years.
3. Amount of capital stock. The capital stock shall be divided into shares of one hundred dollars each, and shall be sufficient for the contemplated cost of construction, right of way and rolling stock as estimated by the engineers employed by the corporation.
4. Names and number of the first directors.
5. Time and place of the annual stockholders' meeting, the place from and to which the proposed road is to be constructed, the counties into and through which it is intended to pass, and its length as near as can be determined.
6. Signatures of subscribers. Each subscriber to the articles shall personally, or by his attorney in fact, subscribe his name, place of residence and the number of shares of stock subscribed by him in the corporation.
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