Should any such person mentioned in Section 58-17-310 fail to reorganize such company as provided by said section, within the time therein limited, such person shall pay a penalty of fifty dollars per day for each and every day they shall fail to operate such railroad, this penalty to be collected by the Office of Regulatory Staff. But the penalty herein provided shall not attach when reasonable cause for failure to operate can be shown.
Any person shall, in addition to the penalty above provided, forfeit all of his franchises, powers, and privileges.
HISTORY: 1962 Code Section 58-902; 1952 Code Section 58-902; 1942 Code Section 8278; 1932 Code Section 8223; Civ. C. '22 Section 4787; Civ. C. '12 Section 3118; Civ. C. '02 Section 2044; 1897 (22) 533; 1935 (39) 25; 2006 Act No. 318, Section 114, eff May 24, 2006.
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