2006 Minnesota Statutes

222.12 AID IN CONSTRUCTION OF CONNECTING ROAD.
Any domestic railroad corporation, heretofore or hereafter organized, may aid any other
railroad corporation in the construction of its road, by subscription to its capital stock or otherwise,
for the purpose of forming a connection with such other railroad; or any railroad corporation may
lease or purchase any part or all of a railroad constructed by any other corporation whose lines
of road are continuous or connected but not parallel with its own, upon any agreed terms and
conditions; or any two or more railroad corporations whose lines are so connected may enter
into any arrangement for their common benefit, consistent with and calculated to promote the
objects of, their organization; but no such aid shall be furnished, nor any purchase, lease, or other
arrangement perfected, until a meeting of the stockholders of each such corporation shall have
been had, and the holders of at least two-thirds of the stock represented at such meeting, in person
or by proxy, and voting thereat, shall have assented thereto.
History: (7511) RL s 2900