Indiana § 8-4-14-4 Bonds, mortgages, or trust deeds as security

Indiana Statutes

§ 8-4-14-4 — Bonds, mortgages, or trust deeds as security

Indiana § 8-4-14-4

Art. 4ORGANIZATION AND OPERATION OF

Ch. 14Reorganization of Railroads After Sale

This text of Indiana § 8-4-14-4 (Bonds, mortgages, or trust deeds as security) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 8-4-14-4 (2026).

Text

(a)Said corporation shall have power to make and issue bonds, bearing any rate of interest, whether fixed or contingent, cumulative or noncumulative, payable at such times and places, and in such amount or amounts, and with such provisions with respect to redemption, sinking fund, maturity, issuance of said bonds in series, and conversion of said bonds into stock of said corporation at any time up to the maturity of said bonds, as it may deem expedient, and to sell and dispose of said bonds at such prices and in such manner as it may deem proper, to secure the payment of any bonds which it may make, issue or assume to pay by mortgage or mortgages or deed or deeds of trust of its railroad, or any part thereof, and of its real and personal property and franchises, and to act as a corporatio

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(a) Said corporation shall have power to make
and issue bonds, bearing any rate of interest, whether fixed or
contingent, cumulative or noncumulative, payable at such times and
places, and in such amount or amounts, and with such provisions with
respect to redemption, sinking fund, maturity, issuance of said bonds
in series, and conversion of said bonds into stock of said corporation at
any time up to the maturity of said bonds, as it may deem expedient,
and to sell and dispose of said bonds at such prices and in such manner
as it may deem proper, to secure the payment of any bonds which it
may make, issue or assume to pay by mortgage or mortgages or deed
or deeds of trust of its railroad, or any part thereof, and of its real and
personal property and franchises, and to act as a corporation.
(b) All property of said corporation included in such mortgage or
mortgages or deed or deeds of trust, whether then held or thereafter
acquired, shall be subject to the operation and lien of such mortgage or
mortgages or deed or deeds of trust, and in case of sale under the same,
it shall pass to and become vested in the purchaser or purchasers
thereof so as to enable them to form a corporation in the manner
prescribed in this chapter, and to vest in such corporation all the
faculties, powers, authorities, immunities, and franchises conferred by
this chapter.
Formerly: Acts 1945, c.202, s.4. As amended by Acts 1981,
P.L.11, SEC.48; P.L.136-2018, SEC.93.