(a) Any railroad corporation created by the laws of any other state shall be empowered to extend its railroad into this state a distance not exceeding five (5) miles from the point of its entrance into this state, for the purpose of reaching a terminal point, or a general or a union depot in, or in the vicinity of, any city, town, or village in this state.
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Terms Used In Tennessee Code 65-6-114

  • 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.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) Such corporations may acquire the right-of-way for their railroads from the line of this state to their terminal points or depots in this state by purchase or by gift or by condemnation.
(c) Such corporations shall have the power to purchase, hold, use, and enjoy all real estate necessary for the erection and maintenance of their depots, shops, yards, sidetracks, turnouts, and switches, both along the route and at their terminal points in this state; provided, that they shall first apply for and receive a charter in this state.
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