§ 23-1-17-3.1 — Application; domestic railroad corporations

Indiana § 23-1-17-3.1

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 17: Construction and Application

Text

1. (a) This article applies to a domestic
railroad corporation incorporated before July 1, 1990, if:
(1) the corporation's board of directors adopts a resolution
electing to have this article apply to the corporation;
(2) the resolution specifies the date this article will apply to the
corporation; and
(3) the resolution is filed in the office of the secretary of state
before the date specified under subdivision (2).
(b) The following do not apply to a railroad corporation
incorporated under this article:
(1) IC 8-4-1-1 through IC 8-4-1-12.
(2) IC 8-4-2 through IC 8-4-6.
(3) IC 8-4-8.
(4) IC 8-4-11-1.
(5) IC 8-4-12-6.
(6) IC 8-4-13 through IC 8-4-14.
(7) IC 8-4-16.
(8) IC 8-4-21 through IC 8-4-22.
(9) IC 8-4-24.
(c) Unless otherwise specified in a resolution described under
subsection (a), a reference to a statute listed under subsection (b) that
is contained in the articles of association of a railroad corporation
incorporated under this article shall be treated as a reference to the
Indiana Business Corporation Law (IC 23-1).
(d) A reference in a statute, other than a statute listed under
subsection (b), to a railroad incorporated under a statute listed under
subsection (b) shall be considered to include a railroad corporation to
which this article applies.

Legislative History

As added by P.L.75-1990, SEC.2. Amended by P.L.1-1993, SEC.190.