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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 161 STREET RAILWAYS
  • Section 135 Authorization of sale by receiver of railway property; powers and duties of purchaser

Section 135. A receiver of the property of a company may, by order of the court, sell and transfer the railway and property of such company, its locations and franchises, on such terms and in such manner as the court orders. The purchasers from such receiver, and a company organized under the following section, if such railway has been transferred to it, shall hold and possess said railway, all its rights and franchises and all property acquired in connection therewith, with the same rights and privileges and subject to the same duties and liabilities as the original company; but no action shall be brought against such purchasers or such new company, to enforce any liability incurred by said original company, except debts and liabilities owing from said original company to any city or town where the railway is operated and taxes and assessments for which said original company is liable under the laws relating to street railways, which shall be assumed and paid by said new company. This section shall not impair the powers of the holders of an outstanding mortgage to enforce their rights by suit or otherwise.