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23-11-208. Characteristics and powers generally of corporation.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-11-208. Characteristics and powers generally of corporation.
When the charter and articles of incorporation shall have been filed as provided in §§ 23-11-205 and 23-11-207, the persons who shall have signed and acknowledged the articles of incorporation and their successors shall be a body politic and corporate by the name stated in the articles, and the corporation:
(1) Shall be capable of suing and being sued;
(2) May have a seal;
(3) Shall be capable in law of purchasing, holding, and conveying any real estate and personal property whatever which may be necessary or desirable for the business of the corporation, for the construction, maintenance, or acquisition of a railroad, and for the erection of all necessary buildings, yards, and appurtenances for the use of the railroad; and
(4) May receive, hold, enjoy, and convey any lands or interest in lands that may be given, granted, or donated to it.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-11-208
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-11-208
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 56766ecf645073f8176bafe1e77182379f189f6825d732c904508a9fe5e57300
Source location: content.xml paragraph 6070
Stored source content
23-11-208. Characteristics and powers generally of corporation.
When the charter and articles of incorporation shall have been filed as provided in §§ 23-11-205 and 23-11-207, the persons who shall have signed and acknowledged the articles of incorporation and their successors shall be a body politic and corporate by the name stated in the articles, and the corporation:
(1) Shall be capable of suing and being sued;
(2) May have a seal;
(3) Shall be capable in law of purchasing, holding, and conveying any real estate and personal property whatever which may be necessary or desirable for the business of the corporation, for the construction, maintenance, or acquisition of a railroad, and for the erection of all necessary buildings, yards, and appurtenances for the use of the railroad; and
(4) May receive, hold, enjoy, and convey any lands or interest in lands that may be given, granted, or donated to it.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-11-205. Application for incorporation — Hearing — Order of department.
(a) Promptly after the filing of an application for the organization of a railroad corporation, the Arkansas Department of Transportation, under and in accordance with rules and regulations to be established by the department, shall set a date for a hearing upon the application and shall provide that notice of the hearing shall be given to all persons whose interest may be adversely affected by the granting of the application.
(b) The department shall issue its order authorizing the granting of a charter to the proposed corporation if after the hearing the department finds that:
(1) A need exists for the formation of the railroad corporation;
(2) The public good and convenience will be served thereby; and
(3) The proposed financing of the corporation is adequate to permit and enable the corporation to provide all of the services and facilities proposed and to protect the public interest.
(c) A copy of the department's order, together with verified copies of the articles of incorporation, shall be filed in the office of the Secretary of State.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-11-205
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-11-205. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-11-207. Filing of papers — Effect.
(a) Certified copies of the articles of incorporation together with copies of the charter issued by the Secretary of State and the order of the Arkansas Department of Transportation shall be filed in the office of the county clerk of each county through which the proposed line shall be situated or into which the proposed line shall extend.
(b) Upon the filing of the articles in the office of the county clerk as provided in subsection (a) of this section, the corporation shall be subject to all liabilities otherwise provided by the law of this state except as such powers may be limited by the articles of incorporation.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-11-207
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-11-207. This identifies an authority to review, not proof of applicability.