Louisiana § 45:616 Stockholders' approval of sale

Louisiana Statutes

§ 45:616 — Stockholders' approval of sale

Louisiana § 45:616

Title 45Public Utilities and Carriers

This text of Louisiana § 45:616 (Stockholders' approval of sale) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 45:616 (2026).

Text

In order for a conventional sale of any railroad, its property, rights, and franchises to take place and be valid, it shall be approved and ratified by two-thirds of the capital stock of each of the contracting companies respectively, at a stockholders' meeting called for that purpose. The purchase by a railway corporation at judicial sale, shall be authorized and approved by two-thirds of the capital stock of the purchasing company, at a stockholders' meeting convened for that purpose.
In either case, sixty days' public notice calling such meeting shall be given in a newspaper published at the domicile of each company.

Free access — add to your briefcase to read the full text and ask questions with AI

In order for a conventional sale of any railroad, its property, rights, and franchises to take place and be valid, it shall be approved and ratified by two-thirds of the capital stock of each of the contracting companies respectively, at a stockholders' meeting called for that purpose. The purchase by a railway corporation at judicial sale, shall be authorized and approved by two-thirds of the capital stock of the purchasing company, at a stockholders' meeting convened for that purpose.
In either case, sixty days' public notice calling such meeting shall be given in a newspaper published at the domicile of each company.