Railroad corporations organized under the law of this state are authorized to enter into subscription contracts for the sale of their stock under such terms, conditions, and restrictions and subject to such liabilities relative thereto as are provided by law for such contracts by private corporations, except as such contracts may be restricted by the articles of incorporation or the Arkansas Department of Transportation.Amended by Act 2017, No. 707,§ 162, eff. 8/1/2017.Acts 1959, No. 30, § 11; A.S.A. 1947, § 73-324.2. Railroad corporations organized under the law of this state are authorized to enter into subscription contracts for the sale of their stock under such terms, conditions, and restrictions and subject to such liabilities relative thereto as are provided by law for such contracts by private corporations, except as such contracts may be restricted by the articles of incorporation or the Arkansas Department of Transportation.Amended by Act 2017, No. 707,§ 162, eff. 8/1/2017.Acts 1959, No. 30, § 11; A.S.A. 1947, § 73-324.2.
Arkansas Legal Code