Rhode Island § 39-6-26 § 39-6-26. Right of purchaser to convey to corporation.

Rhode Island Statutes

§ 39-6-26 — § 39-6-26. Right of purchaser to convey to corporation.

Rhode Island § 39-6-26

Title 39Public Utilities and Carriers

Ch. 39-6Railroad Companies

This text of Rhode Island § 39-6-26 (§ 39-6-26. Right of purchaser to convey to corporation.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 39-6-26 (2026).

Text

§ 39-6-26. Right of purchaser to convey to corporation.
Any purchaser of any railroad or street railway, and of any corresponding property,
            rights, privileges, and franchises, shall have the right and is hereby authorized
            and empowered to sell, assign, transfer, and convey all and each railroad or street
            railway and the property, rights, privileges, and franchises so purchased by him or
            her to any legally organized corporation duly created and empowered to construct,
            maintain, and operate a railroad or street railway, and to purchase, maintain, operate,
            and use any railroad or street railway, and the property, rights, privileges, and
            fra

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§ 39-6-26. Right of purchaser to convey to corporation.

Any purchaser of any railroad or street railway, and of any corresponding property, rights, privileges, and franchises, shall have the right and is hereby authorized and empowered to sell, assign, transfer, and convey all and each railroad or street railway and the property, rights, privileges, and franchises so purchased by him or her to any legally organized corporation duly created and empowered to construct, maintain, and operate a railroad or street railway, and to purchase, maintain, operate, and use any railroad or street railway, and the property, rights, privileges, and franchises, upon such terms and conditions as may be mutually agreed upon between the purchaser and the corporation; and the person so selling any railroad or street railway and the property, rights, privileges, and franchises to the corporation, may receive in payment for the railroad or street railway the stock or bonds of the corporation at not less than the par value thereof.