CHAPTER 25. UNDERWRITING BONDS OF FOREIGN RAILROADS

IC 8-4-25
    Chapter 25. Underwriting Bonds of Foreign Railroads

IC 8-4-25-1
Authority to underwrite
    Sec. 1. The board of directors of any railway company organizedunder and pursuant to the laws of the state of Indiana whose line ofrailway extends across the state in either direction, may, upon thepetition of the holders of a majority of the stock of such railwaycompany, direct the execution by such railway company of anindorsement guaranteeing the payment of the principal and interestof the bonds of any railway company organized under or pursuant tothe laws of any adjoining state the construction of whose line or linesof railway would be beneficial to the business or traffic of therailway so indorsing or guaranteeing such bonds.
(Formerly: Acts 1883, c.127, s.1.)

IC 8-4-25-2
Petition
    Sec. 2. The petition of the stockholders specified in section 1 ofthis chapter shall state the facts relied on to show the benefitsaccruing to the company indorsing or guaranteeing the bonds abovementioned.
(Formerly: Acts 1883, c.127, s.2.) As amended by P.L.62-1984,SEC.80.

IC 8-4-25-3
Limitation on amount
    Sec. 3. No railway company shall, under the provisions of thischapter, indorse or guarantee the bonds of any such railway companyor companies as is above mentioned to an amount exceeding one-half(1/2) of the par value of the stock of the railway company soindorsing or guaranteeing as authorized under this chapter.
(Formerly: Acts 1883, c.127, s.3.) As amended by P.L.62-1984,SEC.81.