(a) Articles of consolidation or purchase shall be signed by a majority of the directors of the respective companies and shall be filed and recorded in the office of the Secretary of State.
(b) The articles of consolidation or purchase shall set forth the amount of the capital stock, the names of the officers of the companies thus formed, and all conditions, agreements, and stipulations in the premises.
(c) The amount of the capital stock of the company thus formed may be fixed at any amount not exceeding the aggregate sum authorized by the charter or articles of incorporation of the respective companies thus merging or amalgamating.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 1 - Public Utilities And Carriers
Chapter 11 - Establishment and Organization of Railroads
Subchapter 3 - Sale, Lease, or Consolidation
§ 23-11-301. Authority of railroad to sell or lease road or property
§ 23-11-303. Construction, purchase, or lease of railroad in adjoining state authorized
§ 23-11-304. Formation of connecting lines — Aid to construction of other railroad authorized
§ 23-11-305. Consolidation when lines connect at state boundary line
§ 23-11-306. Consolidation of two or more railroad companies to effect continuous line
§ 23-11-307. Consolidation with foreign corporation
§ 23-11-308. Bonds issued by leasing, purchasing, or consolidating corporation — Security for bonds
§ 23-11-309. Stockholders' consent required for purchase of stock, lease, or consolidation
§ 23-11-310. Articles of consolidation or purchase — Amount of capital stock
§ 23-11-311. Control of parallel or competing line prohibited — Contracts, etc., void — Penalties
§ 23-11-312. Rights and privileges of consolidated and purchasing companies
§ 23-11-313. Debts of purchased or consolidated companies — Claims