Bill Text: IL HB2272 | 2011-2012 | 97th General Assembly | Introduced
Bill Title: Amends the Railroad Incorporation Act. Makes a technical change in a Section concerning the incorporation of a company for the purpose of constructing and operating railroads.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [HB2272 Detail]
Download: Illinois-2011-HB2272-Introduced.html
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1 | AN ACT concerning transportation.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Railroad Incorporation Act is amended by | |||||||||||||||||||
5 | changing Section 1 as follows:
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6 | (610 ILCS 5/1) (from Ch. 114, par. 1)
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7 | Sec. 1.
Any number of persons, not less than 5,
may become | |||||||||||||||||||
8 | an incorporated company for for the purpose of constructing and
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9 | operating any railroad in this state, and all railroads or
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10 | transportation companies authorized to be incorporated and | |||||||||||||||||||
11 | transact
business in this state by virtue of this Act, are | |||||||||||||||||||
12 | hereby
authorized and empowered to purchase, own, operate and | |||||||||||||||||||
13 | maintain any
railroad sold or transferred under order or powers | |||||||||||||||||||
14 | of sale or judgment of, or
sale under foreclosure of mortgage | |||||||||||||||||||
15 | or deed of trust, and corporations
heretofore organized under | |||||||||||||||||||
16 | the provisions of the Act hereby amended, their
successors or | |||||||||||||||||||
17 | assigns, shall have and possess all the powers and privileges
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18 | conferred by this Act.
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19 | (Source: P.A. 84-1308.)
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