2005 North Carolina Code - General Statutes § 124-3. Report of railroad, canal, etc.; contents.

§ 124‑3.  Report of railroad, canal, etc.; contents.

(a)       The president or other chief officer of every railroad, canal, or other public work of internal improvement in which the State owns an interest, shall, report annually to the Joint Legislative Commission on Governmental Operations. This report shall include:

(1)       Number of shares owned by the State.

(2)       Number of shares owned otherwise.

(3)       Par value of the shares.

(4)       Repealed by Session Laws 2000, c. 146, s. 3.

(5)       Amount of bonded debt, and for what purpose contracted.

(6)       Amount of other debt, and how incurred.

(7)       If interest on bonded debt has been punctually paid as agreed; if not, how much in arrears.

(8)       Amount of gross receipts for past year, and from what sources derived.

(9)       An itemized account of expenditures for past year.

(10)     A summary of all leases, sales, or acquisitions of real property to which the company has been a party since the last report.

(11)     Suits at law pending against his company concerning its bonded debt, or in which title to all or any part of such road or canal is concerned.

(12)     Any sales of stock owned by the State, by whose order made, and disposition of the proceeds.

(13)     Annual financial statements, including notes, audited by an independent certified public accounting firm.

(b)       Upon the request of the Governor or any committee of the General Assembly, a State‑owned railroad company shall provide all additional information and data within its possession or ascertainable from its records. The State‑owned railroad company shall not be deemed to have waived any attorney‑client privilege when complying with this subsection. At the time a State‑owned railroad company provides information under this section, it shall indicate whether the information is confidential. Confidential information shall be subject to subsection (c) of this section.

(c)       Confidential information includes (i) information related to a proposed specific business transaction where inspection, examination, or copying of the records would frustrate the purpose for which the records were created, or (ii) information that is subject to confidentiality obligations of a railroad company. Confidential information shall not be subject to a request under G.S. 132‑6(a). (1925, c. 157, s. 3; 1993, c. 539, s. 928; 1994, Ex. Sess., c. 24, s. 14(c); 2000‑67, s. 7.2(b); 2000‑146, s. 3.)