65-7-102 - Right to subscribe to stock. - Tennessee Statutes

65-7-102. Right to subscribe to stock.

No county, incorporated city, or town shall subscribe to the capital stock of any railroad company under this chapter unless its railroad runs through the county or within one (1) mile of the incorporated city or town making the subscription; provided, that any county within which the railroad or any of its branches terminates may subscribe under the provisions of this chapter.

[Acts 1887, ch. 3, § 2; Shan., § 1559; Code 1932, § 2613; T.C.A. (orig. ed.), § 65-702.]