§ 8-4-7-4 — Directors; numbers; acquisition of property

The board of directors of any such union
company shall consist of not less than one (1) representative for each
of the proprietary companies to be selected by the respective
companies which they are to represent: Provided, That the board may
increase the number of directors by fixing the additional equal number
of representatives to be selected for each proprietary company, and any
successor in interest to one or more original proprietary companies
shall be entitled to select the number of representatives so provided for
each such company. And such board of directors shall have power to
construct, maintain and operate such union railroad, to regulate the use
of its depots, stations, structures, appliances and facilities, and to
regulate the time and manner in which engines, cars and other rolling
stock shall pass or be hauled over its tracks, and the tolls, charges or
compensation to be paid therefor.
Formerly: Acts 1885, c.20, s.4; Acts 1959, c.28, s.1.