Indiana Code 8-3-5-1. Application; public use
(1) Before July 1, 2017, any railroad company organized under Indiana statutes but not under IC 8-4-1.
Terms Used In Indiana Code 8-3-5-1
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(A) incorporated in Indiana; or
(B) a foreign corporation, partnership, or limited liability company authorized to do business in Indiana.
However, nothing in this section contained shall be deemed or held to authorize such entities to condemn for any purpose that is not a public use authorized by its charter, but such entity adopting the provisions of that chapter shall not condemn more, or for any purpose than as authorized as a public use by its charter; neither shall such entity be deemed to have surrendered or abandoned its charter by condemning real estate as authorized in this section.
Formerly: Acts 1889, c.194, s.1. As amended by P.L.62-1984, SEC.27; P.L.146-2017, SEC.1.