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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 161 STREET RAILWAYS
  • Section 137 Certificate of incorporation; organization of railway company

Section 137. The state secretary shall receive the agreement of association, and preserve it in form convenient for reference and open to public inspection, and shall issue a certificate of incorporation in the form authorized by section nine. Thereupon, the company shall organize in the manner provided in this chapter for the organization of a company. Such company may begin business as soon as it is organized, and shall have all the rights and be subject to all the duties of a street railway company, except as otherwise provided in this and the preceding section. If said purchasers fail to organize a company as hereinbefore provided, all rights and powers to operate said railway shall thereupon cease.