Rhode Island General Laws 39-6-17. Operation of trains over tracks of another company
Railroad corporations and street railroad companies may contract that either shall perform transportation of persons and property upon and over the whole or any part of the road of the other, so far as the other has then the right by law to perform the transportation, and may contract with each other for the lease, use, or sale of their respective roads, or any part thereof, upon such terms as the directors may agree, and as may be approved by a majority of the stockholders of both corporations present and voting at meetings called for that purpose, and the corporation operating any portion of any railroad under any contract or sale shall have, in addition to its own powers, privileges, and franchises, all the powers, privileges, and franchises of the other party thereto in respect to the road, and be subject to and perform all the public duties and obligations of the other party in respect thereto.
History of Section.
P.L. 1896, ch. 400, § 2; G.L. 1909, ch. 215, § 70; G.L. 1923, ch. 251, § 61; G.L. 1938, ch. 124, § 61; G.L. 1956, § 39-6-17.
Terms Used In Rhode Island General Laws 39-6-17
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Railroad: means and includes every railroad other than a street railway, by whatsoever power, operated for public use in the conveyance in this state of persons or property for compensation, with all bridges, ferries, tunnels, switches, spurs, tracks, stations, wharves, and terminal facilities of every kind, used, operated, controlled, leased, or owned by or in connection with any railroad. See Rhode Island General Laws 39-1-2