§ 140 Consolidation or merger of corporations owning or leasing continuous lines; abandonment of parallel lines; merger of subsidiary corporations
§ 141 Mergers and consolidations of certain railroad corporations
§ 144 Assessment of property of new or surviving corporation
§ 145 Stocks of municipal corporations, how represented
§ 146 Foreclosure of mortgages made by consolidated railroads partly in the state
§ 147 Powers of corporations organized to acquire and operate railroads partly in the state
§ 148 Lease and conveyance of road
§ 151 Mortgagee may purchase at foreclosure sale
§ 162 Acquisition and maintenance of railroad built, owned or operated by a corporation not organized under this chapter

Terms Used In New York Laws > Railroad > Article 4 - Consolidation, Lease, Sale and Reorganization

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Personal property: All property that is not real property.
  • Statute: A law passed by a legislature.