374:32 Corporate Authorization. –
Except when the public utility is an excepted local exchange carrier, if such public utility, or the other party to any such transfer, lease, or contract, be a corporation and if the commission shall find that the public good so requires, such transfer, lease, or contract shall first be authorized by the vote of 2/3 of the shares of the capital stock of each of the interested corporations present and voting at meetings duly called to consider the subject; and all statutes regulating, protecting, and determining the rights of a dissenting stockholder of a railroad in the case of a lease or union with another railroad shall be applicable, and the rights of any stockholder of such corporation dissenting from such transfer, lease, or contract, if the same shall be authorized as above provided, shall be regulated, protected, and determined by such statutes.
Source. 1915, 52:1. PL 240:30. RL 289:30. 1953, 176:1, eff. May 21, 1953. 2012, 177:13, eff. Aug. 10, 2012.