(a) Railroad corporations organized under the laws of this state may be dissolved or liquidated, wholly or in part, after approval of the action by the Arkansas Department of Transportation in the manner provided by the law for dissolution or liquidation of business corporations organized under the laws of this state.
(b) Certified copies of the order of the department approving the dissolution or liquidation shall be filed in the office of the Secretary of State and in the office of the county clerk in each county where the articles of incorporation are required to be filed.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 1 - Public Utilities And Carriers
Chapter 11 - Establishment and Organization of Railroads
Subchapter 2 - Railroad Incorporation Act of 1959
§ 23-11-203. Articles of incorporation
§ 23-11-204. Formation of railroad corporation — Application — Contents
§ 23-11-205. Application for incorporation — Hearing — Order of department
§ 23-11-206. Issuance of charter
§ 23-11-207. Filing of papers — Effect
§ 23-11-208. Characteristics and powers generally of corporation
§ 23-11-209. Specific powers and liabilities
§ 23-11-210. Stockholders' first meeting
§ 23-11-211. Annual and special meetings of stockholders
§ 23-11-212. Voting of shares generally
§ 23-11-213. Board of directors — Members
§ 23-11-214. Board of directors — Meetings
§ 23-11-215. Board of directors — Powers generally
§ 23-11-216. Board of directors — Issuance of bonds, certificates of indebtedness — Security
§ 23-11-217. Dividends — Declaration and payment by board of directors
§ 23-11-218. Officers and committees of board of directors
§ 23-11-219. Subscription contracts for sale of stock
§ 23-11-220. Amendment of articles of incorporation
§ 23-11-221. Dissolution or liquidation of railroad corporation
§ 23-11-223. Corporations existing prior to June 7, 1945 — Extension of charter