If the board of directors of a railroad corporation organized under the laws of this state deems it desirable that the corporation be dissolved, the board of directors may adopt a resolution to that effect and may call a meeting of the stockholders having voting powers to consider a proposal to dissolve and to take action upon the resolution so adopted. Such meeting of the stockholders shall be held upon notice given in the manner provided in Code Section 46-8-46 for notice of organization meetings of railroad corporations or upon written waiver of notice. If at such meeting or any adjournment thereof the holders of record of two-thirds of all the stock entitled to vote thereon determine that the dissolution should take place, a petition for dissolution shall be filed in triplicate with the Secretary of State.
History. Ga. L. 1953, Nov.-Dec. Sess., p. 213, § 2.
Structure Georgia Code
Title 46 - Public Utilities and Public Transportation
Chapter 8 - Railroad Companies
Part 2 - Consolidation, Merger, Surrender of Franchise, and Dissolution of Companies
§ 46-8-71. Dissolution of Railroad Corporation Generally
§ 46-8-74. Advertisement of Petition for Dissolution
§ 46-8-75. Transfer of Copy of Petition From Secretary of State to Commission
§ 46-8-79. Effect of Issuance of Order of Dissolution and Payment of Fees