Illinois General Assembly - Illinois Compiled Statutes

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610 ILCS 5/1

(610 ILCS 5/1) (from Ch. 114, par. 1)

Sec. 1.

Any number of persons, not less than 5,
may become an incorporated company for the purpose of constructing and
operating any railroad in this state, and all railroads or
transportation companies authorized to be incorporated and transact
business in this state by virtue of this Act, are hereby
authorized and empowered to purchase, own, operate and maintain any
railroad sold or transferred under order or powers of sale or judgment of, or
sale under foreclosure of mortgage or deed of trust, and corporations
heretofore organized under the provisions of the Act hereby amended, their
successors or assigns, shall have and possess all the powers and privileges
conferred by this Act.

(Source: P.A. 84-1308.)