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This entry was published on 2014-09-22
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Powers of corporations organized to acquire and operate railroads partly in the state
Railroad (RRD) CHAPTER 49, ARTICLE 4
§ 147. Powers of corporations organized to acquire and operate
railroads partly in the state. A railroad corporation created under the
laws of the state or states in which the greater part of the line of its
railroad may be situated, or a railroad corporation heretofore or
hereafter created under this chapter or other statutes of this state,
for the purpose of taking title to, and operating, the line of road as
so sold, under a judgment or decree of a court of this state, or of a
court of the United States sitting in this state, for the foreclosure of
a mortgage, with its franchises and appurtenances, may hold, possess and
operate not only those parts of the railroad lying in other states, but
also that part of the line of such railroad lying in this state, and
shall be subject to the duties and liabilities to which such corporation
was, by the laws of this state, subject, and to such further or other
duties and liabilities as are now or may hereafter be imposed by law
upon railroad corporations of this state, and to the provisions of any
other statute of this state concerning the reorganization of
corporations. An exemplified copy of the certificate or certificates of
incorporation, under and by virtue of which any such corporation is
created in any other state, and a certified copy of the judgment or
decree of any court sitting in any other state, under which said
railroad shall have been sold, and a certified copy of the order or
judgment or decree of confirmation and approval required by the
preceding section, or of the order, judgment or decree of the court of
this state, or of the United States in this state, which decreed the
sale, confirming the same, shall be filed in the office of the
department of state for this state, and in the office of the county
clerk of the county where its principal business office in this state is
or shall be located.

This section and the preceding one shall apply in respect of decrees,
foreclosures, sales, confirmations, reorganizations and incorporations,
whether heretofore or hereafter made, provided, however, that nothing in
either of said sections shall affect any action or proceeding pending in
any court, on or before the first day of April, eighteen hundred and
ninety-six, to establish the invalidity of any foreclosure or
reorganization theretofore had, or to enforce any judgment or claim
arising before such foreclosure or reorganization.