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2011 Ohio Revised Code
Title [49] XLIX PUBLIC UTILITIES
Chapter 4961: SPECIAL POWERS OF RAILROADS
4961.36 Lease of railroad - security required.
Universal Citation:
OH Rev Code § 4961.36
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No railroad company shall lease its road or any part thereof to another company, whether of this or any other state, unless the lessor receives full and adequate security for the payment of the rental and for the preservation of its property in as good condition as on entering into possession of such property. If the lessee fails to pay such rental promptly when due, such lease shall be void at the option of the lessor. The company to whom a railroad is leased, if a corporation of any other state, shall be subject to all the restrictions, disabilities, and duties of a railroad company incorporated within this state.
Effective Date: 10-01-1953
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