Louisiana Revised Statutes 45:614 – Sale, pledge or hypothecation of bonds, stock, earnings, etc., power to make
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Terms Used In Louisiana Revised Statutes 45:614
- 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 body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
Any railway corporation in Louisiana may sell, pledge or hypothecate, for railroad purposes, its bonds, stock, earnings, revenues, income rights, and credits, to any person or other railway corporation unless the railroad lines of the contracting railway corporations are parallel and competing lines.