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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB2272 Introduced , by Rep. Tom Cross SYNOPSIS AS INTRODUCED:
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610 ILCS 5/1 | from Ch. 114, par. 1 |
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Amends the Railroad Incorporation Act. Makes a technical change in a Section concerning the incorporation of a company for the purpose of constructing and operating railroads.
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| | A BILL FOR |
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| | HB2272 | | LRB097 07387 HEP 47496 b |
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| 1 | | AN ACT concerning transportation.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Railroad Incorporation Act is amended by |
| 5 | | changing Section 1 as follows:
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| 6 | | (610 ILCS 5/1) (from Ch. 114, par. 1)
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| 7 | | Sec. 1.
Any number of persons, not less than 5,
may become |
| 8 | | an incorporated company for for the purpose of constructing and
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| 9 | | operating any railroad in this state, and all railroads or
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| 10 | | transportation companies authorized to be incorporated and |
| 11 | | transact
business in this state by virtue of this Act, are |
| 12 | | hereby
authorized and empowered to purchase, own, operate and |
| 13 | | maintain any
railroad sold or transferred under order or powers |
| 14 | | of sale or judgment of, or
sale under foreclosure of mortgage |
| 15 | | or deed of trust, and corporations
heretofore organized under |
| 16 | | the provisions of the Act hereby amended, their
successors or |
| 17 | | assigns, shall have and possess all the powers and privileges
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| 18 | | conferred by this Act.
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| 19 | | (Source: P.A. 84-1308.)
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