FORMATION AND UNION OF RAILROAD CORPORATIONS; LEASES AND EXTENSIONS
Formation of a Railroad Corporation
367:8 Termination of Provisional Corporation.
If the provisional corporation shall not take the necessary steps and become a railroad corporation within 2 years after the time of the record of its articles of agreement in the office of the secretary of state, its existence as a corporation shall terminate.
Source. PS 156:7. PL 246:7. RL 296:7.