Except as provided in Section 77-9-119, it shall be unlawful for any railroad company to consolidate with a parallel or competing railroad company, or to allow its affairs to be in any manner managed, regulated, or controlled by any such parallel or competing railroad company, or permit its affairs to be so managed, regulated, or controlled by the same person or persons who manage, regulate, or control the affairs of such competing or parallel railroad company, under penalty of the forfeiture of the charters and franchises of such company or companies; all persons, agents, or companies so offending shall be liable to the further penalty of ten thousand dollars ($10,000.00). It shall further be unlawful for competing railroad companies operating parallel lines of road within twenty (20) miles of each other to lease or purchase, directly or indirectly, the opposing line or any part thereof or any interest therein. Such contracts, no matter in whose name made, are hereby prohibited under the penalties provided in this section.
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