Indiana § 8-4-7-14 Associate companies; board of managers; delegation of powers and
duties

Indiana Statutes

§ 8-4-7-14 — Associate companies; board of managers; delegation of powers and duties

Indiana·Art. 4 ORGANIZATION AND OPERATION OF·Ch. 7 Incorporation of Union Railway Companies

It shall be competent for the board of directors
of such union railway company, in the agreement by which any
associate company or companies may be admitted as aforesaid, to
delegate to such board of managers such and so much of the authority,
power and jurisdiction of such board of directors as may be agreed
upon, subject, however, to the rights of the proprietary companies and
of the union railway company as defined in the agreements under
which associate companies may have been or may be admitted; subject
to these rights, the powers so delegated to said board of managers shall
be exercised by said board of managers, and shall continue so long as
the said associate companies, or any or either of them, shall continue
to be entitled to use the property and facilities of such union railway

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It shall be competent for the board of directors
of such union railway company, in the agreement by which any
associate company or companies may be admitted as aforesaid, to
delegate to such board of managers such and so much of the authority,
power and jurisdiction of such board of directors as may be agreed
upon, subject, however, to the rights of the proprietary companies and
of the union railway company as defined in the agreements under
which associate companies may have been or may be admitted; subject
to these rights, the powers so delegated to said board of managers shall
be exercised by said board of managers, and shall continue so long as
the said associate companies, or any or either of them, shall continue
to be entitled to use the property and facilities of such union railway
company.
Formerly: Acts 1885, c.20, s.14.

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