§ 124-3. Report of railroad, canal, etc.; contents. - North Carolina Statutes

§ 124‑3.  Report ofrailroad, canal, etc.; contents.

(a)        The president orother chief officer of every railroad, canal, or other public work of internalimprovement in which the State owns an interest, shall, report annually to theJoint Legislative Commission on Governmental Operations. This report shallinclude:

(1)        Number of sharesowned by the State.

(2)        Number of sharesowned otherwise.

(3)        Par value of theshares.

(4)        Repealed by SessionLaws 2000, c. 146, s. 3.

(5)        Amount of bondeddebt, and for what purpose contracted.

(6)        Amount of otherdebt, and how incurred.

(7)        If interest onbonded debt has been punctually paid as agreed; if not, how much in arrears.

(8)        Amount of grossreceipts for past year, and from what sources derived.

(9)        An itemized accountof expenditures for past year.

(10)      A summary of allleases, sales, or acquisitions of real property to which the company has been aparty since the last report.

(11)      Suits at law pendingagainst his company concerning its bonded debt, or in which title to all or anypart of such road or canal is concerned.

(12)      Any sales of stockowned by the State, by whose order made, and disposition of the proceeds.

(13)      Annual financialstatements, including notes, audited by an independent certified public accountingfirm.

(b)        Upon the request ofthe Governor or any committee of the General Assembly, a State‑ownedrailroad company shall provide all additional information and data within itspossession or ascertainable from its records. The State‑owned railroadcompany shall not be deemed to have waived any attorney‑client privilegewhen complying with this subsection. At the time a State‑owned railroadcompany provides information under this section, it shall indicate whether theinformation is confidential. Confidential information shall be subject tosubsection (c) of this section.

(c)        Confidentialinformation includes (i) information related to a proposed specific businesstransaction where inspection, examination, or copying of the records wouldfrustrate the purpose for which the records were created, or (ii) informationthat is subject to confidentiality obligations of a railroad company.Confidential information shall not be subject to a request under G.S. 132‑6(a).(1925, c. 157, s. 3; 1993, c. 539, s. 928; 1994, Ex. Sess., c. 24, s.14(c); 2000‑67, s. 7.2(b); 2000‑146, s. 3.)