2016 Indiana Code
TITLE 8. UTILITIES AND TRANSPORTATION
ARTICLE 4. ORGANIZATION AND OPERATION OF RAILROADS
CHAPTER 8. BRANCH RAILROADS
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IC 8-4-8
Chapter 8. Branch Railroads
IC 8-4-8-1
Authority to operate; stocks and bonds
Sec. 1. It shall be lawful for any railroad company in this state,
organized under the general or special laws of this state, to make
branches or extensions of its railroad to the boundary-line of any
county in which such railroad may have a terminus, such
boundary-line being also a boundary-line of the state, and such
railroad company shall have all the powers, rights and privileges in
relation to such branches of extensions as it has or may have in
relation to its original road, under the law by which it was organized,
and in conformity to the law of its organization, with power to said
company to subscribe and take stock in any railroad bridge company
on the route of said road, or at the terminus of said railroad, for the
use and benefit of said road: Provided, That any such bridge at the
terminus of such road shall be so constructed as to admit the passage
of vehicles, foot passengers, and for general purposes: And, provided
also, That where the terminus of such road is, or shall be, at or near
the state-line, and the board of directors of such railroad company
shall, by resolution, declare that it is desirable for such railroad
company to acquire terminal property, or terminal rights and
facilities, to enable it to operate through or into any city in another
state and adjoining the terminus of such company, such railroad
company shall have power, by its board of directors, to take stock in
any terminal company organized under the laws of any adjoining
state for the purpose of acquiring and constructing terminal property
and terminal facilities, and to guarantee the bonds thereof. The
amount of such stock investments and of the bonds guaranteed shall
be determined by such board of directors.
(Formerly: Acts 1863, c.4, s.1; Acts 1911, c.59, s.1.)
Indiana Code 2016
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