2005 Minnesota Statutes - 222.12 — Aid in construction of connecting road.

     222.12 Aid in construction of connecting road.  


    Any domestic railroad corporation, heretofore or hereafter 
 organized, may aid any other railroad corporation in the 
 construction of its road, by subscription to its capital stock 
 or otherwise, for the purpose of forming a connection with such 
 other railroad; or any railroad corporation may lease or 
 purchase any part or all of a railroad constructed by any other 
 corporation whose lines of road are continuous or connected but 
 not parallel with its own, upon any agreed terms and conditions; 
 or any two or more railroad corporations whose lines are so 
 connected may enter into any arrangement for their common 
 benefit, consistent with and calculated to promote the objects 
 of, their organization; but no such aid shall be furnished, nor 
 any purchase, lease, or other arrangement perfected, until a 
 meeting of the stockholders of each such corporation shall have 
 been had, and the holders of at least two-thirds of the stock 
 represented at such meeting, in person or by proxy, and voting 
 thereat, shall have assented thereto.  


    HIST: (7511) RL s 2900