Sec. 4. The directors named in section 1 of this chapter shall open books for subscription to the capital stock of the company, at such times and in such places as a majority of them may direct, due notices of which shall be given; and in case a greater amount of stock shall be subscribed than the whole capital required by such company, the directors shall distribute such capital stock, so subscribed, as equally as possible among the subscribers, but no share thereof shall be divided in making such distribution, nor shall a greater number of shares be allotted to any one (1) subscriber than by him subscribed for.
Formerly: Acts 1852, 1RS, c.83, s.3. As amended by P.L.62-1984, SEC.33.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 4. Organization and Operation of Railroads
Chapter 1. Incorporation of Railroad Companies
8-4-1-2. Shareholders; Preemptive Rights
8-4-1-3. Articles of Association; Filing With Secretary of State
8-4-1-4. Subscriptions to the Stock
8-4-1-5. Shareholders; Annual Meeting; Directors, Election, and Term
8-4-1-6. Meetings of Shareholders; Notice; Requisites
8-4-1-7. Meetings of Shareholders; Annual Report; Removal of Officers
8-4-1-8. Directors; Elections; President and Other Officers; Appointment or Election
8-4-1-9. Stock Subscriptions; Demands for Payment
8-4-1-10. By-Laws; Officers and Employees; Appointment and Duties
8-4-1-11. Stock Certificates; Issuance and Transfer
8-4-1-12. Certificate of Capitalization
8-4-1-13. Maps and Route Profile; Filing
8-4-1-14. General Powers and Duties; Enumeration
8-4-1-15. Eminent Domain; Right to Acquire Title
8-4-1-16. Eminent Domain; Damages; Appraisals; Appeals
8-4-1-17. Eminent Domain; Conflicting Claimants to Compensation; Judicial Determination
8-4-1-18. Eminent Domain; Court Appointed Attorney for Absentees or Persons Unknown
8-4-1-19. Eminent Domain; Stay of Proceedings; Perfecting Defective Title
8-4-1-20. Financing of Operations; Loans and Issue of Security
8-4-1-22. Railroad Crossings; Grade Separation
8-4-1-23. Public Lands; Acquisition; Location Upon Grounds of State Institutions
8-4-1-24. Employees; Identification Badges
8-4-1-25. State Lien for Penalties, Taxes, and Dues
8-4-1-31. Maps and Profiles; Certificates of Proposed Line; Filing
8-4-1-32. Failure to Complete Road; Voiding of Corporation