Indiana § 8-4-25-1 Authority to underwrite

Indiana Statutes

§ 8-4-25-1 — Authority to underwrite

Indiana·Art. 4 ORGANIZATION AND OPERATION OF·Ch. 25 Underwriting Bonds of Foreign Railroads

The board of directors of any railway company
organized under and pursuant to the laws of the state of Indiana whose
line of railway extends across the state in either direction, may, upon
the petition of the holders of a majority of the stock of such railway
company, direct the execution by such railway company of an
indorsement guaranteeing the payment of the principal and interest of
the bonds of any railway company organized under or pursuant to the
laws of any adjoining state the construction of whose line or lines of
railway would be beneficial to the business or traffic of the railway so
indorsing or guaranteeing such bonds.
Formerly: Acts 1883, c.127, s.1.

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The board of directors of any railway company
organized under and pursuant to the laws of the state of Indiana whose
line of railway extends across the state in either direction, may, upon
the petition of the holders of a majority of the stock of such railway
company, direct the execution by such railway company of an
indorsement guaranteeing the payment of the principal and interest of
the bonds of any railway company organized under or pursuant to the
laws of any adjoining state the construction of whose line or lines of
railway would be beneficial to the business or traffic of the railway so
indorsing or guaranteeing such bonds.
Formerly: Acts 1883, c.127, s.1.

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