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23-11-313. Debts of purchased or consolidated companies — Claims.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-11-313. Debts of purchased or consolidated companies — Claims.
(a)(1) Whenever any railroad company, corporation, or individual purchases any railroad from any other railroad company, corporation, or individual, the company, corporation, or individual purchasing shall take and hold the railroad subject to all debts, liabilities, and obligations of the company from which the road was purchased.
(2) Whenever any two (2) or more railroad companies shall be consolidated, the consolidated company shall be liable for all the debts, liabilities, and obligations of all the consolidated companies.
(b) All persons or corporations having claims against the purchasing company or individual under this section shall present the claims to the purchasing company or individual within twelve (12) months after receiving notice from the purchasing company or individual of the sale or be forever barred.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-11-313
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:23-11-313
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f98a182a150c20f6b67618c092c5bc2ad7609a05464e07ef5f77d38687ad8dba
Source location: content.xml paragraph 6415
Stored source content
23-11-313. Debts of purchased or consolidated companies — Claims.
(a)(1) Whenever any railroad company, corporation, or individual purchases any railroad from any other railroad company, corporation, or individual, the company, corporation, or individual purchasing shall take and hold the railroad subject to all debts, liabilities, and obligations of the company from which the road was purchased.
(2) Whenever any two (2) or more railroad companies shall be consolidated, the consolidated company shall be liable for all the debts, liabilities, and obligations of all the consolidated companies.
(b) All persons or corporations having claims against the purchasing company or individual under this section shall present the claims to the purchasing company or individual within twelve (12) months after receiving notice from the purchasing company or individual of the sale or be forever barred.
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