When the charter and articles of incorporation shall have been filed as provided in §§ 23-11-205 and 23-11-207, the persons who shall have signed and acknowledged the articles of incorporation and their successors shall be a body politic and corporate by the name stated in the articles, and the corporation:(1) Shall be capable of suing and being sued;(2) May have a seal;(3) Shall be capable in law of purchasing, holding, and conveying any real estate and personal property whatever which may be necessary or desirable for the business of the corporation, for the construction, maintenance, or acquisition of a railroad, and for the erection of all necessary buildings, yards, and appurtenances for the use of the railroad; and(4) May receive, hold, enjoy, and convey any lands or interest in lands that may be given, granted, or donated to it.Acts 1959, No. 30, § 6; A.S.A. 1947, § 73-308.3.
Arkansas Legal Code