Arizona Laws 40-808. General powers of railroad corporations
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A. Railroad corporations may:
Terms Used In Arizona Laws 40-808
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Property: includes both real and personal property. See Arizona Laws 1-215
1. Sue and be sued.
2. Make contracts.
3. Acquire by purchase or gift, hold, and convey all property necessary or convenient for the construction, operation and maintenance of railroad and telegraph lines.
B. Generally for the purpose of carrying on their business, railroad corporations shall have all the rights, powers, and privileges of natural persons.