Arizona Laws 40-801. Stock subscription required to form railroad corporation
Current as of: 2024 | Check for updates
|
Other versions
When capital stock of at least one thousand dollars for each mile of a proposed railroad is subscribed by not fewer than five persons who are citizens of the United States, the subscribers, in person or by proxy, may adopt articles of incorporation for the formation of a corporation to construct, own and maintain a railroad, and elect from among themselves not fewer than five nor more than thirteen directors to constitute the first board.
Terms Used In Arizona Laws 40-801
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215