§ 8-4-12-1 — Forfeiture of rights, privileges, and franchises

Any railroad company organized under a special
charter, or under the general law of the state for the construction of
railroads, whose lines are wholly within this state or partly within this
state and partly in another state, which shall fail to keep up the
directory of their road and expend at least the sum of fifty thousand
dollars ($50,000) upon the line of their road in this state, within any
period of two (2) years from March 11, 1867; or where any railroad
company, so organized as aforesaid, shall have located before March
11, 1867, the line of her road in this state, and have afterwards adopted
another and different line and route thereof in this state, then, in either
of the above cases, such railroad company shall be taken and held to
have abandoned such road, or so much of the line thereof in this state
as has been abandoned by so selecting and adopting another and
different line; and such company is hereby declared to have forfeited
all her rights, privileges, and franchises in such road or part thereof.
Formerly: Acts 1867, c.80, s.1; Acts 1877, c.68, s.1. As
amended by P.L.62-1984, SEC.61.