Chapter 124 Internal Improvements
Article 1 - General Provisions.
- § 124-1 Control of internal improvements
The Governor and Council of State shall have charge of all the State's interest in all railroads, canals and other works of internal improvements. The...
- § 124-2 State deemed shareholder in corporation accepting appropriation
When an appropriation is made by the State to any work of internal improvement conducted by a corporation, the State shall be considered, if so...
- § 124-3 Report of railroad, canal, etc.; contents
(a) The president or other chief officer of every railroad, canal, or other public work of internal improvement in which the State owns an interest,...
- § 124-4 Repealed by Session Laws 2000-146, s. 4
- § 124-5 Approval of encumbrance on State's interest in corporations
(a) No corporation or company in which the State owns the majority of any class of voting stock shall sell, lease, mortgage, or otherwise encumber...
- § 124-5.1 State use of North Carolina Railroad dividends
(a) Notwithstanding the provisions of G.S. 136‑16.6, in order to increase the capital of the North Carolina Railroad Company, any dividends of the North Carolina...
- § 124-6 Appointment of proxies, director of railroad companies, etc
(a) The Governor shall appoint on behalf of the State all such officers or agents as, by any act, incorporating a company for the purpose...
- § 124-7 Power of investigation of corporations
The Governor and Council of State shall have the power to investigate the affairs of any corporation or association described in G.S. 124‑3 and may...
- § 124-8 Reserved for future codification purposes
- § 124-9 Reserved for future codification purposes
- § 124-10 Reserved for future codification purposes
Article 2 - State-Owned Railroad Company.
- § 124-11 Definition
As used in this Chapter, the term "State‑Owned Railroad Company" shall mean a railroad company in which the State owns all of the voting stock....
- § 124-12 Powers of a State-owned railroad company
A State‑owned railroad company shall have, in addition to the powers of any railroad corporation, the power to: (1) Lease, license, or improve property. A...
- § 124-13 Effect on State-owned railroad company charter
Nothing in this Chapter repeals or modifies any State‑owned railroad company charter or limits the rights of the shareholders of the company as provided in...
