ยง 130. Reorganizations. 1. Corporate reorganizations of common
carriers shall be subject to the approval of the commissioner.
2. Upon all such reorganizations the amount of capitalization,
including therein all stocks and bonds and other evidence of
indebtedness, shall be such as is authorized by the commissioner which,
in making his determination, shall not exceed the fair value of the
property involved, taking into consideration its original cost of
construction, duplication cost, present condition, earning power at
reasonable rates and all other relevant matters and any additional sum
or sums as shall be actually paid in cash, provided, however, that the
commissioner may make due allowance for discount of bonds. Any
reorganization agreement before it becomes effective shall be amended so
that the amount of capitalization shall conform to the amount authorized
by the commissioner.
Structure New York Laws
Article 5 - The Powers of the Commissioner in Respect to Common Carriers
115 - General Powers and Duties of Commissioner in Respect to Common Carriers.
116 - Reports of Common Carriers.
117 - Investigation of Accidents.
118 - Investigations by Commissioner.
119 - Rates and Service to Be Fixed by the Commissioner.
120 - Power of Commissioner to Order Repairs or Changes.
125 - Power of Commissioner to Order Continuance of Train Service During Investigation.
126 - Uniform System of Accounts; Access to Accounts; Forfeitures.
127 - Franchises and Privileges.
128 - Transfer of Franchises, Property or Stocks.
131-A - Penalties for Violations.
132 - Enforcement Proceedings.
133 - Penalties for Other Than Common Carriers.