§ 39-6.1-9 — § 39-6.1-9. Sale of rail properties.

Rhode Island § 39-6.1-9

• Jurisdiction: Rhode Island
• Title 39: Public Utilities and Carriers
• Ch. 39-6.1: Railroad Preservation

Text

§ 39-6.1-9. Sale of rail properties.

All rail properties within the state offered for sale by any railway corporation after April 9, 1976, shall be offered for sale to the state in the first instance at the lowest price at which the railway corporation is willing to sell. The railway corporation shall notify the state in writing if it desires to offer for sale any rail properties. The state shall have a period of not more than ninety (90) days from receipt of the notification to accept the offer. If the offer is not accepted in writing within the period of time, the railway corporation shall be free to sell the rail properties to any other party. For purposes of this section only, rail properties shall mean only those rail properties for which permission to abandon rail lines thereon has not been granted by the Interstate Commerce Commission at the time of offer for sale. This section shall apply only to the sale of rail properties and not the sale of easements or similar interests in rail properties. No person, firm, or corporation shall be permitted to take any of the properties of a railway corporation by condemnation.

Legislative History

P.L. 1976, ch. 28, § 1; P.L. 1976, ch. 143, § 1; P.L. 1992, ch. 332, § 1.