Bill Text: CA AB2497 | 2009-2010 | Regular Session | Introduced

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Bill Title: Railroad corporations.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-02-22 - Read first time. [AB2497 Detail]

Download: California-2009-AB2497-Introduced.html

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BILL NUMBER: AB 2497	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Furutani

                        FEBRUARY 19, 2010

   An act to amend Section 7508 of the Public Utilities Code,
relating to railroad corporations.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2497, as introduced, Furutani. Railroad corporations.
   Existing law, subject to specified statutes, authorizes any
railroad corporation, or person or corporation owning any railroad in
this state, to sell, convey, and transfer its property and
franchises, or any part thereof, to any other railroad corporation,
whether organized under the laws of this state or of any other state
or territory, or under any act of Congress. Existing law authorizes
the railroad corporation receiving the conveyance to perform
specified functions as if the corporation was organized under the
laws of this state.
   This bill would make technical, nonsubstantive changes to these
provisions.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 7508 of the Public Utilities Code is amended to
read:
   7508.  Subject to the provisions of Part 1 of Division 1 and of
the Corporations Code, any railroad corporation, or person or
corporation owning any railroad in this  State  
state  , may sell, convey, and transfer its property and
franchises, or any part thereof, to any other railroad corporation,
whether organized under the laws of this  State 
 state  or of any other state or territory, or under any act
of Congress. The railroad corporation receiving the conveyance may
hold and operate the railroad franchises and property within this
 State  state  , build and operate
extensions and branches thereof, exercise the right of eminent domain
for such purposes, and do any other business in connection
therewith, as fully and effectually as if the corporation was
organized under the laws of this  State   state
 .