23-1-17-3.1. Application; domestic railroad corporations

IN Code § 23-1-17-3.1 (2019) (N/A)
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Sec. 3.1. (a) This article applies to a domestic railroad corporation incorporated before July 1, 1990, if:

(1) the corporation's board of directors adopts a resolution electing to have this article apply to the corporation;

(2) the resolution specifies the date this article will apply to the corporation; and

(3) the resolution is filed in the office of the secretary of state before the date specified under subdivision (2).

(b) The following do not apply to a railroad corporation incorporated under this article:

(1) IC 8-4-1-1 through IC 8-4-1-12.

(2) IC 8-4-2 through IC 8-4-6.

(3) IC 8-4-8.

(4) IC 8-4-11-1.

(5) IC 8-4-12-6.

(6) IC 8-4-13 through IC 8-4-14.

(7) IC 8-4-16.

(8) IC 8-4-21 through IC 8-4-22.

(9) IC 8-4-24.

(c) Unless otherwise specified in a resolution described under subsection (a), a reference to a statute listed under subsection (b) that is contained in the articles of association of a railroad corporation incorporated under this article shall be treated as a reference to the Indiana Business Corporation Law (IC 23-1).

(d) A reference in a statute, other than a statute listed under subsection (b), to a railroad incorporated under a statute listed under subsection (b) shall be considered to include a railroad corporation to which this article applies.

As added by P.L.75-1990, SEC.2. Amended by P.L.1-1993, SEC.190.