Whenever all the capital stock of a railroad corporation formed under this title is owned by a railroad corporation chartered under the laws of this state or another state, the corporation may sell and convey to the corporation owning its stock all its franchises, rights, roadbed, and property; but the purchasing company, if a foreign corporation, shall keep an office in this state and an agent thereat, service of process upon the agent shall be service upon the purchasing company. The railroad so purchased shall be in all respects subject to the laws of this state as if owned by a domestic corporation, and all liens and rights of creditors shall be preserved unimpaired.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 21 - Certain Powers, Rights, and Duties of Corporations.
Article 2 - Corporate Powers of Eminent Domain.
Section 10A-21-2.02 - Condemnation for Ways and Rights-of-Way, etc., by Railroad Companies.
Section 10A-21-2.03 - Railroads Authorized to Transfer Abandoned Rights-of-Way.
Section 10A-21-2.06 - Construction Through Curtilage of House, etc., Without Consent Prohibited.
Section 10A-21-2.08 - Condemnation of Lands for Depots, Yards, and Tracks by Railroads.
Section 10A-21-2.09 - Rights of Condemning Corporations in Selection of Routes and Sites.