Arizona § 40-801 Stock subscription required to form railroad corporation

Arizona Statutes

§ 40-801 — Stock subscription required to form railroad corporation

Arizona § 40-801

Title 40Arizona Revised Statutes

Ch. 4RAILROADS

Art. 1Organization, General Powers and Duties

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Bluebook

Ariz. Rev. Stat. Ann. § 40-801 (2026).

Text

When capital stock of at least one thousand dollars for each mile of a proposed railroad is subscribed by not fewer than five persons who are citizens of the United States, the subscribers, in person or by proxy, may adopt articles of incorporation for the formation of a corporation to construct, own and maintain a railroad, and elect from among themselves not fewer than five nor more than thirteen directors to constitute the first board.

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When capital stock of at least one thousand dollars for each mile of a proposed railroad is subscribed by not fewer than five persons who are citizens of the United States, the subscribers, in person or by proxy, may adopt articles of incorporation for the formation of a corporation to construct, own and maintain a railroad, and elect from among themselves not fewer than five nor more than thirteen directors to constitute the first board.