388.340. Extension of lines--other roads, how acquired--assent of majority of stockholders required. - Missouri Statutes

Extension of lines--other roads, how acquired--assent ofmajority of stockholders required.

388.340. Any railroad company heretofore organized, or whichmay hereafter be organized under the laws of this state, mayextend its line of railroad beyond this state into or through anyother state or territory, and may acquire any line of railroadwithin or without this state which shall form a continuous linewith the road operated by such company, by direct connection orby bridge, ferry or otherwise, or over any other line or linesconstructed, or to be constructed, and which bridge, ferry, lineor lines, such company shall have the right, by contract orotherwise, when completed, to use or operate, and may acquire andmay hold the obligations and stock of other companies owning oroperating any such lines of road, bridge or ferry; provided, thatno line of railroad shall be so purchased until a meeting of thestockholders of such company or companies of this state, party orparties to such an agreement, whereby a railroad in this statemay be purchased, shall have been called by the directorsthereof, at such times and places and in such manner as theyshall designate, sixty days' due notice thereof having beenpreviously given, and the holders of a majority of such stock, byperson or proxy, shall have assented thereto, or until a majorityof the holders of the stock of such company shall have consentedthereto, in writing, and a certificate thereof signed by thepresident and secretary of said company or companies shall havebeen filed in the office of the secretary of state.

(RSMo 1939 § 5164)

Prior revisions: 1929 § 4691; 1919 § 9881; 1909 § 3080