(a)
(1) Any company formed for the purpose of buying or building and owning one (1) or more steamboats, barges, and flatboats to be used in transporting freight and passengers on any river, lake, bayou, or other navigable stream, shall have the right-of-way, not exceeding two hundred feet (200') in width, over any strip of land connecting two (2) navigable streams, lakes, or bodies of water.
(2) The strip of land shall not be more than five (5) miles in width for the purpose of erecting thereon dirt, plank, or horse railroads, and such other improvements as may be necessary for the convenience and business of the company.
(b) No other company shall have right-of-way within a less distance than three (3) miles of the way claimed by the company first availing itself of the provisions of this section, § 18-15-801, and §§ 18-15-803 -- 18-15-806.
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