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Table V.-CONDITIONS OF RAILROAD INCORPORATION-Continued.
F.-Corporate powers relative to management, construction, and extension-Continued.

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Table V.-CONDITIONS OF RAILROAD INCORPORATION-Continued.
F.-Corporate powers relative to management, construction, and extension-Continued.

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Table V.-CONDITIONS OF RAIL

G.-Corporate powers relative to alteration of provisions of incorporation, consolidation,

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Consolidation, merger, lease, purchase, etc.

Railroads, when continuous or connecting, may consolidate to form a
new corporation with consent of two-thirds stock of each (1163; 1166);
any railroad may lease any connecting railroad (1163; 1170); any rail-
roads may enter into any contracts with each other (1170); purchasers
of railroads at judicial sale may incorporate (1181); a domestic railroad
may purchase any other (1163); foreign railroad owning stock of domes-
tic, may purchase railroad (1169).

When foreign railroad owns or operates a line in State, it may purchase
others connecting directly or indirectly (28).
.do..

Any railroads (not competing), having either terminus in State, may consolidate with consent of three-fourths stock of each (317; 318); any railroad may lease or use track of any connecting line (308; 317); railroad can not exchange stocks or bonds for stocks or bonds of any other railroad (P. C. 878).

Railroad may purchase or lease any railroad connecting directly or indi-
rectly (4; also 1901-864), or vice versa (4; also 1901-864); purchasers of
railroads at judicial sale may incorporate (5; also 1901-880).
.do.....

Domestic railroads may consolidate with consent of majority of stock of each (6182); also domestic railroads with foreign connecting railroads with consent of two-thirds stock of each (6314-15-19-28), but the consolidated corporation is to be domestic (6328); domestic railroad may purchase or lease any other railroad (6182), or may buy its stocks or bonds, and vice versa (6321-2-4-8; 6342); a railroad may sell out to any corporation organized to purchase it (6338); purchasers at judicial sale may incorporate (6178); but consolidation, purchase, lease, or control of parallel lines forbidden (C. XVII, 4; 6302).

1901

1902

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Railroads may consolidate, with written consent of three-fourths stock (473; also 1901-327); any railroad may lease or make operating contracts with any other (491; also 1901-369); but railroad may not exchange its stocks or bonds for those of another corporation (IV, 560); franchise of railroad may be sold under execution (388).

Any corporation owning a railroad in California may sell its property and franchises to any foreign or domestic railroad (178).

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Any domestic or foreign railroads (not parallel, or controlling a parallel line) may consolidate into one corporation (604-10; 631), which shall be domestic so far as part in State is concerned (C. XV, 14; 609); domestic or foreign railroads may lease any railroad (611-2); companies may be organized to purchase railroads at judicial sale (614-5); consolidation of parallel lines forbidden (C. XV, 5).

625

Any domestic or foreign railroad may purchase part or all of any con-
necting line (162; 313), or may hold its stocks and bonds (162; 313).
.do..

Railroad extending to, or beyond, State line may consolidate with connecting railroads of other States with consent of two-thirds stock of each (3443), but no parallel lines may consolidate (3443); railroad may lease or be leased by any other railroad (3472); no other railroad shall hold stocks or bonds of railroad under general laws of Connecticut (3442); at least six directors of consolidated companies must be citizens of State (3449).

Purchasers of railroad at judicial sale may incorporate by filing certificate with secretary of state (812).

do.

ROAD INCORPORATION-Continued.

change in capital stock, and foreign corporations; and peculiar statutory provisions.

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