(a) Subject to § 6-101(c) of this article, a Maryland railroad company may acquire, own, hold, pledge, sell, dispose of, endorse, guarantee, or assume the stocks, bonds, and other securities of:

(1) a Maryland railroad company;

(2) a railroad company of any other state; and

(3) an inland, coast, or ocean transportation company.

(b) A Maryland railroad company may own and operate a line of steamships or steamboats if they can be used wholly or partly, in connection with the business of the Maryland railroad company.