§ 5. Incorporation. A railroad corporation may be formed under this chapter for the purpose of owning or operating a railroad for public use, in accordance with the procedure for the formation of corporations set forth in Article 4 of the business corporation law, by delivering to the department of state for filing a certificate of incorporation entitled "Certificate of incorporation of … (name of corporation) pursuant to § 5 of the railroad law".

Terms Used In N.Y. Railroad Law 5

  • 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.
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