§ 23-11-311 — Control of parallel or competing line prohibited - Contracts, etc., void - Penalties

Arkansas § 23-11-311

• Jurisdiction: Arkansas
• Title: 23

Text

(a) (1) No railroad or the lessees, purchasers, or managers of any railroad shall consolidate the stock, property, or franchises of the corporation with, nor lease or purchase the works or franchises of, nor in any way control any other railroad owning or having under its control a parallel or competing line, nor shall any officer of such a railroad act as an officer of any other railroad owning or having control of a parallel or competing line; (2) In all cases under this section, when demanded by either party, the question whether railroads are parallel or competing lines shall be decided by a jury. (b) (1) All acts or attempted acts of any railroad, or the lessees, purchasers, or managers of any railroad, in violation of any of the provisions of subsection (a) of this section shall be void. (2) Any person or party aggrieved or affected by any such acts or attempted acts, whether stockholders or not, may bring an action against them in the circuit court of any county through which the railroad passes. The court shall have jurisdiction in the case and power to set aside any such acts or attempted acts as void, and to restrain and enjoin the acts or attempted acts and grant all other proper relief. (c) Any officer of the railroad who violates subsection (a) of this section, by acting also as an officer of any other parallel or competing line of railroad, as therein prohibited, shall forfeit and pay not less than twenty-five dollars ($25.00) nor more than five hundred dollars ($500) per day during the time he or she so violated subsection (a) of this section, to be recovered by civil action brought by like parties and in like manner, as provided in subsection (b) of this section.

Legislative History

Acts 1887, No. 81, §§ 2, 13, p. 113; C. & M. Dig., §§ 8533, 8535; Pope's Dig., §§ 11109, 11111; A.S.A. 1947, §§ 73-1501, 73-1502.