§5182. Succession to rights and obligations of original corporation
The trustees of bondholders or other parties under contract with them operating a railroad and all corporations formed in the modes provided have the same rights, powers and obligations as the old corporation had by its charter and the general laws. All rights and privileges are subject to amendment, alteration or repeal by the Legislature and to all the general laws concerning railroads, notwithstanding anything to the contrary in the original charter. [PL 1987, c. 141, Pt. A, §4 (NEW).]
SECTION HISTORY
PL 1987, c. 141, §A4 (NEW).
Structure Maine Revised Statutes
Chapter 605: MANAGEMENT AND OPERATION
Subchapter 5: RIGHTS OF PURCHASERS UNDER SALE
23 §5181. Purchasers at sale have rights of original corporation; redemption
23 §5182. Succession to rights and obligations of original corporation
23 §5183. Original corporation continues, to close business, and for actions
23 §5184. Courts have jurisdiction of all disputes
23 §5186. Holders of unpaid scrip and bonds may foreclose mortgages
23 §5187. Capital stock of new corporation; value of shares; no further assessment
23 §5188. Organization certificate filed with Secretary of State