Arkansas Code Title 23, Subtitle 1, Chapter 11, Subchapter 3 - Sale, Lease, or Consolidation

• § 23-11-301 - Authority of Railroad to Sell or Lease Road or Property.
  Every railroad corporation incorporated under the laws of this state whose road is wholly or in part constructed and operating is authorized to sell,...
• § 23-11-302 - Authority to Sell or Lease Road or Property to Connecting Foreign Railroad -- Authority to Acquire Other Railroads -- Ratification.
  (a) Subject to the approval thereof by the Arkansas State Highway and Transportation Department under such rules and regulations for procedure as it may...
• § 23-11-303 - Construction, Purchase, or Lease of Railroad in Adjoining State Authorized.
  Any railway company which may have built its road to the boundary line of the state may extend into the adjoining state and for...
• § 23-11-304 - Formation of Connecting Lines -- Aid to Construction of Other Railroad Authorized.
  Any railroad company heretofore incorporated or hereafter organized, in pursuance of law, may aid any other company at any time, by means of subscription...
• § 23-11-305 - Consolidation When Lines Connect At State Boundary Line.
  (a) Any railroad companies organized under the laws of this state whose roads connect at the boundary line of this state are authorized to...
• § 23-11-306 - Consolidation of Two or More Railroad Companies to Effect Continuous Line.
  (a) Any two (2) or more railroad companies in this state, existing under either general or special laws, owning railroads which are constructed wholly...
• § 23-11-307 - Consolidation With Foreign Corporation.
  (a) Any corporation formed under the laws of this state and chartered thereby may consolidate with any corporation of any adjoining state in the...
• § 23-11-308 - Bonds Issued by Leasing, Purchasing, or Consolidating Corporation -- Security for Bonds.
  (a) For the purpose of carrying out and executing any or all of the powers granted in §§ 23-11-301, 23-11-303 -- 23-11-306, 23-11-309, and...
• § 23-11-309 - Stockholders' Consent Required for Purchase of Stock, Lease, or Consolidation.
  No aid as provided in § 23-11-304 shall be furnished, nor shall any purchase, lease, subletting, consolidation, or arrangements be perfected, until: (1) A...
• § 23-11-310 - Articles of Consolidation or Purchase -- Amount of Capital Stock.
  (a) Articles of consolidation or purchase shall be signed by a majority of the directors of the respective companies and shall be filed and...
• § 23-11-311 - Control of Parallel or Competing Line Prohibited -- Contracts, Etc., Void -- Penalties.
  (a) (1) No railroad or the lessees, purchasers, or managers of any railroad shall consolidate the stock, property, or franchises of the corporation with,...
• § 23-11-312 - Rights and Privileges of Consolidated and Purchasing Companies.
  (a) When any two (2) railroad companies shall become consolidated under the laws of this state or when any railroad which has been wholly...
• § 23-11-313 - Debts of Purchased or Consolidated Companies -- Claims.
  (a) (1) Whenever any railroad company, corporation, or individual purchases any railroad from any other railroad company, corporation, or individual, the company, corporation, or...
• § 23-11-314 - Forfeiture of Lease -- Ouster.
  (a) The franchise and all charter rights whatsoever of any railroad company in and to all railroad, roadbed, bridge, depot, or other railroad property,...
• § 23-11-315 - Corporations Formed to Purchase or Lease Railroads -- Stock Issued in Payment Deemed Fully Paid Shares.
  (a) Subject to the provisions of Acts 1959, No. 30, corporations may be formed for the purpose of purchasing or leasing the whole or...

Last modified: November 15, 2016