North Carolina § 124-12 Powers of a State-owned railroad company

North Carolina Statutes

§ 124-12 — Powers of a State-owned railroad company

North Carolina § 124-12

Ch. 124Internal Improvements

Art. 2State-Owned Railroad Company

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Bluebook

N.C. Gen. Stat. § 124-12 (2026).

Text

A State-owned railroad company shall have, in addition to the powers of any railroad corporation, the power to:

(1)Lease, license, or improve property. - A State-owned railroad company may lease, license, or improve its right-of-way and property, whether held by easement, presumptive grant, express grant, or otherwise, for the purpose of preserving and protecting its railroad corridor and franchise.

(2)Condemnation in fee simple. - A State-owned railroad company may exercise the power of eminent domain to acquire property in fee simple for the purposes specified in G.S. 40A-3(a)(4). The procedures of Article 2 of Chapter 40A of the General Statutes shall apply to the exercise of the power of eminent domain under this subdivision. (2000-146, s. 7.)

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A State-owned railroad company shall have, in addition to the powers of any railroad corporation, the power to:
(1) Lease, license, or improve property. - A State-owned railroad company may lease, license, or improve its right-of-way and property, whether held by easement, presumptive grant, express grant, or otherwise, for the purpose of preserving and protecting its railroad corridor and franchise.
(2) Condemnation in fee simple. - A State-owned railroad company may exercise the power of eminent domain to acquire property in fee simple for the purposes specified in G.S. 40A-3(a)(4). The procedures of Article 2 of Chapter 40A of the General Statutes shall apply to the exercise of the power of eminent domain under this subdivision. (2000-146, s. 7.)