97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB2272

 

Introduced , by Rep. Tom Cross

 

SYNOPSIS AS INTRODUCED:
 
610 ILCS 5/1  from Ch. 114, par. 1

    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.


LRB097 07387 HEP 47496 b

 

 

A BILL FOR

 

HB2272LRB097 07387 HEP 47496 b

1    AN ACT concerning transportation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Railroad Incorporation Act is amended by
5changing Section 1 as follows:
 
6    (610 ILCS 5/1)  (from Ch. 114, par. 1)
7    Sec. 1. Any number of persons, not less than 5, may become
8an incorporated company for for the purpose of constructing and
9operating any railroad in this state, and all railroads or
10transportation companies authorized to be incorporated and
11transact business in this state by virtue of this Act, are
12hereby authorized and empowered to purchase, own, operate and
13maintain any railroad sold or transferred under order or powers
14of sale or judgment of, or sale under foreclosure of mortgage
15or deed of trust, and corporations heretofore organized under
16the provisions of the Act hereby amended, their successors or
17assigns, shall have and possess all the powers and privileges
18conferred by this Act.
19(Source: P.A. 84-1308.)