A. 1. Any person who owns real property adjacent to real property owned by a railroad company shall have first priority to purchase such real property, at the price provided by subsection D of this section, from the railroad company upon the bankruptcy of the railroad company or the abandonment of the real property as determined by the Interstate Commerce Commission and offered for sale if such real property is not purchased within one (1) year by:
2. If any of the persons or entities specified in paragraph 1 of this subsection fail to purchase any such real property, any state or local governmental entity shall be entitled to purchase the property for valid public purposes.
3. Provided, if more than one of the parties named in paragraph 1 or 2 of this subsection shall offer to purchase, they shall be granted a preference in the order specified in this subsection. If two (2) or more people own property adjacent to the same portion of railroad property, the person from whose property such railroad property was taken shall be entitled to the priority provided for in this section.
B. Notice for the sale of any real property under the provisions of this section shall be given by the bankruptcy court, the receiver, or the railroad company by publication once a week for two (2) consecutive weeks in a newspaper authorized by law to publish legal notices in the county where the real property is located.
C. Any purchase as provided for in this section shall be subject to any encumbrances on the real property. Nothing in this act shall affect any reversionary interest retained in the original grant.
D. The price of such property shall be established by the receiver or bankruptcy court if the railroad company is in bankruptcy or by the railroad company if such property is determined abandoned pursuant to this section.
E. However, for any railroad company purchasing property under subparagraph a of paragraph 1 of subsection A of this section, the Corporation Commission shall certify the intent of said railroad company to continue operation of rail service on said property as a prerequisite to making such purchase.
Laws 1981, c. 241, § 1, emerg. eff. June 23, 1981; Laws 1988, c. 289, § 14, operative July 1, 1988; Laws 1991, c. 266, § 1, emerg. eff. May 27, 1991.
Structure Oklahoma Statutes
§66-1. Articles and certificate.
§66-7. Powers of railroad corporations.
§66-7.1. Certain maps to be filed with Archives and Records Division of Department of Libraries.
§66-8. Public Service Corporations - Capital stock - Indebtedness.
§66-9. Extensions and branches may be built.
§66-12. To restore stream or highway.
§66-14. What property subject to mortgage.
§66-15. Execution of conveyance or lease.
§66-22. Reporting to Corporation Commission.
§66-51. Power to enter upon lands.
§66-52. May purchase or take realty.
§66-54. Taking by eminent domain - Owner entitled to compensation, when.
§66-55. Review of commissioner's report - Jury trial - Notice - Costs.
§66-56. Taking by eminent domain - Appeal to Supreme Court.
§66-57. Eminent domain and condemnation proceedings by railroads.
§66-58. Commissioners to act in all cases.
§66-59. Settlement with incompetents.
§66-61. Right-of-way on public lands - Damages to occupants.
§66-62. Changing line or grade.
§66-63. Municipal authorities may convey - Improvement districts - How highways occupied.
§66-64. Execution of conveyances by certain estates and guardianships.
§66-66. Railroad Division of Department of Transportation as trustee for purchaser.
§66-82. Liability for violation.
§66-85. Must receive and forward freight - Rate of speed - Penalty.
§66-86. Must give notice of arrival of freight.
§66-91. Action to enforce penalty - Attorney's fee.
§66-122. Changing highway - To provide temporary way.
§66-125. Signs at crossings - Neglect.
§66-125a. Railroads - Highway crossings - Safety devices.
§66-125c. Expenses of construction.
§66-125d. Cooperation with federal government.
§66-128. Railroads to construct crossings.
§66-129. Rules and regulations governing crossing sign specifications.
§66-130. Warning signal devices - Rules and regulations.
§66-141. Railroads to fence their roads.
§66-142. Lawful fence defined.
§66-143. Rights of adjacent land owners.
§66-144. Failure to fence - Penalty.
§66-145. Railroads must fence right-of-way with hog wire, when.
§66-147. Owner of abutting land may construct if railroad refuses - Penalty.
§66-161. Extension of road into state.
§66-164. Domestication of foreign corporations in the Territory.
§66-166. Domestication of foreign corporations filing resolutions.
§66-167. Foreign corporations - Increase of capital stock.
§66-168. Domestic corporations - Increase of capital stock.
§66-169. Must begin work in two years.
§66-170. Cancellation of charter rights.
§66-181. Right to deal in passage tickets.
§66-182. Purchasers may sell tickets.
§66-183. Railway law enforcement officers - Power and authority.
§66-184. Company may lease or sell.
§66-190. Blocking vehicular traffic at railroad intersections – Limits – Exceptions - Penalties.
§66-202. Light and power franchises in cities and towns.
§66-304.1. Action to determine constitutionality of Railroad Revitalization Act.
§66-306. Essential governmental functions.
§66-309.1. Railroad Rehabilitation Act - Short title.
§66-309.2. Railroad Rehabilitation Act - Definitions.
§66-309.3. Railroad Rehabilitation Act - Powers and duties of Department of Transportation.
§66-324. Powers and duties of Department - Conflict of interest - Public meetings and records.
§66-325. Oklahoma Tourism and Passenger Rail Revolving Fund.
§66-326. Short title and application.
§66-328. Powers and duties of Commission.
§66-329. Membership and compensation.
§66-330. Election of officers.
§66-331. Powers and duties of officers.
§66-332. Meetings and administration.