610 ILCS 30/ Railroad Interstate Line Consolidation Act.

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610 ILCS 30/0.01

(610 ILCS 30/0.01) (from Ch. 114, par. 41.9)

Sec. 0.01.

Short title.

This Act may be cited as the

Railroad Interstate Line Consolidation Act.

(Source: P.A. 86-1324.)

610 ILCS 30/1

(610 ILCS 30/1) (from Ch. 114, par. 42)

Sec. 1.

When any railroad company,
formed by the consolidation of a company or companies of this state with
a company or companies of another state or states, shall make a further
consolidation with a company or companies of another state or states
owning a continuous and connected but not competing line, the
constituent companies shall have power to fix by the agreement for such
consolidation the terms and conditions upon which the same shall be
made, which terms and conditions may include the payment or retirement
of the preferred stock of either or both of the constituent companies,
if they have such. And in case the new company shall issue preferred
stock, the par value of the shares thereof may be fixed by the agreement
of consolidation or by the resolution for the issue thereof without
regard to the par value of shares of the common stock of such company.

(Source: P.A. 84-1308.)

610 ILCS 30/1.1

(610 ILCS 30/1.1) (from Ch. 114, par. 42.1)

Sec. 1.1.

This Act does not apply to railroads incorporated after July
1, 1985, or to railroads which are reincorporated under the Business
Corporation Act of 1983, as amended.

(Source: P.A. 84-796.)