2013 New York Consolidated Laws
RRD - Railroad
Article 6 - (220 - 244) RAPID TRANSIT ACT OF 1875
237 - Abandonment of portion of route by elevated railroad.

 
    §  237.  Abandonment  of  portion  of route by elevated railroad.  Any
  company operating an elevated railroad or railroads in any city of  this
  state for the transportation of passengers, mails or freight, and which,
  prior to the twenty-ninth day of April, eighteen hundred and ninety-one,
  shall  have  built and operated six-tenths of its route as set forth and
  embodied in its articles of incorporation, may declare relinquished  and
  abandoned  any  portion  of  its said route, which it may deem no longer
  necessary for the successful operation of its road and  the  convenience
  of  the  public.  Such  declaration  of abandonment to be valid shall be
  adopted by the board of directors, under the seal of such  company,  and
  shall  be  submitted to the stockholders thereof at a meeting called for
  the purpose of taking the same into consideration.  Due  notice  of  the
  time  and  place  of holding said meeting and stating the object thereof
  shall be given by the company to its stockholders by written or  printed
  notices addressed to each of the persons in whose name the capital stock
  of  the  company  stands  on  the  books thereof, at the address of such
  persons as stated on the books, or as known  to  the  secretary  of  the
  company,  and  delivered  or  mailed  to  such  persons,  or  the  legal
  representatives of such persons,  respectively,  at  least  thirty  days
  before  the  time  of holding the meeting of such company, and also by a
  general notice published daily for at least four weeks in some newspaper
  last designated for the publication of the session laws or  of  judicial
  proceedings  and  legal  notices  in  the county where the route of such
  company is  located;  and  at  the  said  meeting  of  stockholders  the
  declaration  of  the  said  directors  shall be considered and a vote by
  ballot taken for the adoption or  rejection  of  the  same,  each  share
  entitling the holder thereof to one vote, and said ballots shall be cast
  in  person  or  by  proxy,  and  if  two-thirds  of all the votes of the
  stockholders cast in person or by proxy at said meeting shall be for the
  adoption of said declaration of abandonment, then  that  fact  shall  be
  certified  thereon  by  the  secretary  of  the  company  under the seal
  thereof, and the declaration so adopted shall be submitted for  approval
  to  the  commissioner  of  transportation,  and if approved by him, such
  approval  shall  be  indorsed  thereon,  and  the  said  declaration  so
  certified  and indorsed shall be filed and recorded in the office of the
  secretary of state, and from the time of such  filing  such  portion  of
  said  route  designated  in  such  declaration  of such company shall be
  deemed to be abandoned. A copy of such declaration of abandonment,  duly
  certified  by  the  secretary of state under his official seal, shall be
  presumptive evidence in all courts and places  of  the  facts  which  it
  recites,  and  of  the  regularity  of the proceedings resulting in such
  abandonment.