Arkansas § 23-11-402 Purchase or lease of state roads - Exception

Arkansas Statutes

§ 23-11-402 — Purchase or lease of state roads - Exception

Arkansas § 23-11-402

Title23

This text of Arkansas § 23-11-402 (Purchase or lease of state roads - Exception) 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. § 23-11-402 (2026).

Text

Subject to approval thereof by the Arkansas Department of Transportation under such rules for procedure as it may establish and a determination that action will be in the public interest, any railroad corporation existing under the laws of any other state or territory may buy, lease, or otherwise acquire any railroad, the whole or part of which is in this state, with all the rights, privileges, and franchises thereto pertaining, or buy the stock and bonds, or guarantee the bonds of any railroad corporation incorporated or organized under the laws of this state whenever the roads of such companies shall form in the operation thereof a continuous line or lines. However, the road so purchased shall not be parallel or competing with the purchasing road.

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Subject to approval thereof by the Arkansas Department of Transportation under such rules for procedure as it may establish and a determination that action will be in the public interest, any railroad corporation existing under the laws of any other state or territory may buy, lease, or otherwise acquire any railroad, the whole or part of which is in this state, with all the rights, privileges, and franchises thereto pertaining, or buy the stock and bonds, or guarantee the bonds of any railroad corporation incorporated or organized under the laws of this state whenever the roads of such companies shall form in the operation thereof a continuous line or lines. However, the road so purchased shall not be parallel or competing with the purchasing road.

Legislative History

Amended by Act 2019, No. 315,§ 2410, eff. 7/24/2019. Amended by Act 2017, No. 707,§ 168, eff. 8/1/2017. Acts 1889, No. 34, § 2, p. 43; C. & M. Dig., § 8509; Pope's Dig., § 11085; Acts 1959, No. 30, § 22; A.S.A. 1947, § 73-423.