Arkansas Statutes
§ 23-11-315 — Corporations formed to purchase or lease railroads - Stock issued in payment deemed fully paid shares
Arkansas § 23-11-315
JurisdictionArkansas
Title23
This text of Arkansas § 23-11-315 (Corporations formed to purchase or lease railroads - Stock issued in payment deemed fully paid shares) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ark. Code Ann. § 23-11-315 (2026).
Text
(a)Subject to the provisions of Acts 1959, No. 30, corporations may be formed for the purpose of purchasing or leasing the whole or any part of any railroad, and that purpose or object shall be stated in the application and articles of incorporation.
(b)All shares of stock issued in payment of the purchase shall be deemed to be fully paid shares.
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Legislative History
Acts 1881, No. 43, § 3, p. 79; C. & M. Dig., §§ 8527, 8528; Pope's Dig., §§ 11103, 11104; Acts 1959, No. 30, § 19; A.S.A. 1947, § 73-402.
Nearby Sections
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§ 23-1-101
Definitions§ 23-1-103
Compliance with Acts 1935, No. 324, and rules of commission required - Penalties for noncompliance§ 23-1-106
Penalties cumulative - Recovery of penalty not bar to further penalty or criminal prosecution§ 23-1-108
Jurisdiction and venue of actions§ 23-1-110
Actions tried without jury - Exceptions§ 23-1-111
Copies of official papers as evidence§ 23-1-115
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Bluebook (online)
Arkansas § 23-11-315, Counsel Stack Legal Research, https://law.counselstack.com/statute/ar/23-11-315.