§ 8-4-16-1 — Authority for operation

Any railroad or other company organized under
the laws of this state, or of this state and any other state or states, and
owning or operating, or authorized by its charter to construct or
acquire, a railroad, bridge or tunnel, either wholly within or partly
within and partly without this state, may consolidate its capital stock,
franchises and property with the capital stock, franchises and property
of any other railroad, tunnel or bridge company or companies organized
under the laws of this state, or of this state and any other state or states,
or of any other state or states, or may merge or be merged into any such
other company, whenever the two (2) or more railroads of the
companies so to be consolidated or merged, their tunnels, bridges or
branches or any part thereof, or the lines or routes of their roads if not
constructed, shall or may connect either directly or over the intervening
line or lines of any one (1) or more railroad companies, and any such
consolidated or surviving company may thereafter construct or finish
the construction of such line of railroad if not previously constructed,
and may operate the same, subject to all the provisions of law
applicable to such railroad company.
Formerly: Acts 1937, c.59, s.1; Acts 1955, c.342, s.1.