Indiana Statutes
§ 8-4-7-5 — Stock certificates; proprietary companies
The interest of each proprietary company in the
union company in its capital stock and in its property and effects of
every kind shall be deemed an appurtenance to the railroad of such
proprietary company, and shall not be transferable or alienable
otherwise than with and as a part of the railroad of such proprietary
company. The union company shall issue to each proprietary company
a certificate or certificates setting forth the interest or stock of such
proprietary company in such union company, but such certificate shall
express upon its face that it is not transferable, except as appurtenant
to the railroad of such proprietary company.
Formerly: Acts 1885, c.20, s.5.
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