Section 63-2-1 - Corporate powers. - New Mexico Statutes

63-2-1. [Corporate powers.]

Every railroad corporation as such shall have power:   

A.     of succession by its corporate name for the period limited in its articles of incorporation;   

B.     to sue and be sued in any court;   

C.     to make and use a common seal, and alter the same at pleasure;   

D.     to acquire, purchase, hold and convey such real and personal estate as the purposes of the corporation may require;   

E.     to appoint such subordinate officers or agents as the business of the corporation may require, and to allow them suitable compensation;   

F.     to make bylaws, not inconsistent with any existing law, for the management of its business and property, the regulation of its affairs and for the transfer of its stock;   

G.     to admit stockholders and to sell their stock or shares for the payment of assessments or installments;   

H.     to construct, maintain and operate telegraph lines in connection with its railroad and branches;   

I.     to enter into any obligations or contracts necessary or convenient to the transaction of its ordinary affairs, or for carrying out the purposes of the corporation; and generally, such corporation shall have and possess, for the purpose of construction, maintaining and operating its railroads and telegraph lines, and carrying on its business, all the rights, powers and privileges which are enjoyed by natural persons;   

J.     to construct such branches from its main line or intermediate branches as it may from time to time deem necessary to increase its business and accommodate the trade or travel of the public.