(a) A railroad company has the right to succession.(b) A railroad company may:(1) sue, be sued, plead, and be impleaded in its corporate name;(2) have and use a seal and alter the seal at will;(3) receive and convey persons and property on its railway by any mechanical power, including the use of steam;(4) regulate the time and manner in which, and the compensation for which, passengers and property are transported, subject to the provisions of law;(5) exercise the power of eminent domain for the purposes prescribed by this subtitle or Subtitle D;(6) purchase, hold, and use all property as necessary for the construction and use of its railway, stations, and other accommodations necessary to accomplish company objectives, and convey that property when no longer required for railway use; and(7) take, hold, and use property granted to the company to aid in the construction and use of its railway, and convey that property in a manner consistent with the terms of the grant when the property is no longer required for railway use. Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.03, eff. April 1, 2011.