Sec. 8. In case it shall happen, at any time, that an election of directors shall not be made on the day designated by the bylaws of the company, when it ought to have been made, the company, for that reason, shall not be dissolved if, within ninety (90) days thereafter, they shall hold an election for directors in such manner as shall be provided by the bylaws of the company. There shall be a president of the company who shall be chosen by and from the directors, and also such subordinate officers as the company, by its bylaws, may designate, who may be elected or appointed, and required to give such security for the faithful performance of the duties of their offices as the company, by its bylaws, may require; provided, that nothing contained in this section shall be so construed as to prevent the stockholders from removing a president and electing another in his place in the manner prescribed in section 7 of this chapter.
Formerly: Acts 1852, 1RS, c.83, s.7. As amended by P.L.62-1984, SEC.37.
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