IC 8-4-27
    Chapter 27. Disposition of Foreclosed Foreign Railroad Property

IC 8-4-27-1
Authority for purchase
    Sec. 1. Whenever any railroad, situated partly in this state andpartly in an adjoining state, shall be owned by a corporation formedby the consolidation of a railroad corporation or corporations of thisstate with a railroad corporation or corporations of such adjoiningstate, and which consolidated corporation shall have its principaloffice and the greater part of its railroad in such other state, shall besold under a decree or decrees of foreclosure or sale of any court ofcompetent jurisdiction, any lines of such railroad situated in the stateof Indiana may be purchased, together with the connecting lines ora connecting line in such adjoining state, by any corporationorganized under the laws of such adjoining state, and authorized andempowered by the laws of such adjoining state to purchase, own,operate and maintain any railroad sold or transferred under suchdecree of foreclosure or sale.
(Formerly: Acts 1921, c.11, s.1.)

IC 8-4-27-2
Acquiring corporation; certificate of articles of incorporation;filing; powers and duties
    Sec. 2. In case the whole or any part of any railroad situate withinthis state (a part of which is situate in another state) shall becomevested in a corporation of such other state, and such corporation shallalso acquire a part of such railroad situate in such other state, the saidcorporation may exercise and enjoy, within this state, for thepurposes of such railroad and its business, all the powers, rights,privileges, immunities, and franchises of a railroad corporationorganized under the statutes of this state; provided, that suchcorporation shall have filed, in the office of the secretary of state ofthis state, a copy of its certificate of articles of incorporation,certified by the secretary of state of such other state; and provided,further, that the corporation which acquires any such railroad shallhold and operate the part thereof so acquired in this state, and shallexercise the powers, rights, privileges, immunities, and franchiseshereby conferred, subject to all the rights, powers, privileges, duties,and obligations prescribed by the general laws of this state, for theregulation, government, taxation, or control of railroad companiesorganized under the laws of this state; and provided, further, that thischapter shall not be construed as authorizing any railroad companyto purchase any parallel and competing line of railroad in this state.
(Formerly: Acts 1921, c.11, s.2.) As amended by P.L.62-1984,SEC.82.