§ 23-11-223 - Corporations existing prior to June 7, 1945 -- Extension of charter. - Arkansas Statutes

23-11-223. Corporations existing prior to June 7, 1945 -- Extension of charter.

(a) Upon the application of any railroad corporation chartered under the laws of this state prior to June 7, 1945, accompanied by a resolution of the board of directors of the railroad corporation, the Arkansas Transportation Commission [abolished] is authorized to extend the charter of any such railroad corporation in accordance with the petition and the resolution of the board of directors of the railroad corporation, or on such terms as the commission shall prescribe.

(b) If the petition is allowed, the commission shall cause its approval to be endorsed upon the resolution presented with the petition, together with such restrictions as may be imposed by the commission. The resolution shall be filed with the Secretary of State and certified in the same manner as prescribed by law with respect to the original articles of incorporation.