CHAPTER 367 FORMATION AND UNION OF RAILROAD CORPORATIONS; LEASES AND EXTENSIONS
Formation of a Railroad Corporation
Section 367:7
367:7 Provisional Corporation. –
The subscribers to the articles of agreement, and their assigns, shall thereupon become and be a corporation (herein termed the provisional corporation) having the following franchises, and no other:
I. Authority to organize and to elect officers and agents;
II. Authority to make necessary surveys for the proposed railroad and to enter upon any land for that purpose;
III. Authority to take all other preliminary steps required in the formation of a railroad corporation.