Tennessee Statutes
§ 65-7-116 — Issuance of stock
Tennessee·Title 65
The railroad company shall, when the subscription becomes due and payable, as prescribed, make out and deliver to the county, city, or town, as the case may be, certificates of its capital stock amounting to the subscription, and the certificates shall be held, owned, and voted by such county, city, or town as by other stockholders, and the certificates of stock, and dividends and profits thereon, and the public benefits derived from the construction and operation of the railroad, shall be in full consideration of such subscription and the benefits derived therefrom by the railroad company.
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Legislative History
Acts 1887, ch. 3, § 15; Shan., § 1573; Code 1932, § 2627; T.C.A. (orig. ed.), § 65-716.
Nearby Sections
15
§ 65-1-102
Commissioners - Prohibited activities§ 65-1-103
Meetings§ 65-1-104
Quorum - Chair and vice chair - Panels§ 65-1-105
Compensation - Expenses§ 65-1-107
§ 65-1-107§ 65-1-108
Office - Furniture and supplies§ 65-1-109
Executive director§ 65-1-110
Minutes and official documents§ 65-1-111
Report to general assembly§ 65-1-112
Copies of records§ 65-1-113
Enforcement - Duties of commission