ADMINISTRATION OF TRANSPORTATION LAWS
Railroads and Other Common Carriers
228:57 Sale or Lease; Purpose.
The commissioner as sole agent for the state, with the approval of the governor and council, is authorized to sell, transfer or lease all or any part of the rail properties, and other property acquired under the provisions of this subdivision, to any responsible person, firm or corporation, for continued operation of a railroad, or other public use, provided, if necessary, approval for such continued operation, or other public use, is granted by the interstate commerce commission of the United States whenever such approval is required. Such sale, transfer or lease shall be for such price, and subject to said further terms and conditions, as in the opinion of the commissioner are necessary and appropriate to effectuate the purposes of this subdivision.
Source. 1981, 568:55. 2006, 324:19, eff. Jan. 1, 2007.