Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
When two or more railroad companies are owners in common of the whole or a part of a railroad located within this state, and by reason of inequality in the amount of business done on such railroad by each company require a different degree and extent of improvement and development, such companies may enter into any arrangement they agree upon for enlarging, improving, developing, or increasing the facilities of such railroad or any part thereof. Such companies may make such division of the railroad and appurtenances thereon and execute and deliver each to the other, or to any other railroad company having authority to purchase it, such deeds of conveyance for the whole or part of such railroad as is agreed upon between such companies. This section does not impair the lawful lien of any creditor upon the railroad as conveyed.
Structure Ohio Revised Code
Chapter 4967 | Consolidation of Railroads
Section 4967.01 | Companies May Consolidate.
Section 4967.02 | Consolidation or Merger of Railroad Companies.
Section 4967.03 | Merger With Other Railroad Companies.
Section 4967.04 | Agreement of Consolidation or Merger.
Section 4967.10 | Relief for Dissenting Shareholder.
Section 4967.12 | Property of Old Companies Vests in New - Rights of Creditors Not Impaired.
Section 4967.13 | Disposition of Stocks and Bonds Acquired Upon Consolidation or Merger.
Section 4967.14 | Consolidated Company May Issue Stock in Lieu of Purchase Money.
Section 4967.15 | Property of Company Acquired by Purchase Vested in Consolidated Company.
Section 4967.16 | Effect of Consolidation.
Section 4967.17 | Principal Office.
Section 4967.18 | Taxation of Property of Railroad Located in This State.
Section 4967.19 | Actions Against New Company.
Section 4967.20 | Proof of Charters Not Required.
Section 4967.21 | Two or More Companies Owning a Road May Divide and Dispose of It.
Section 4967.22 | Proceedings When Companies Cannot Agree on a Division.
Section 4967.23 | Cost of Improvements.
Section 4967.24 | Partition Not Compulsory.
Section 4967.25 | Company Selling Interest May Purchase or Condemn Land Along Route.