O.C.G.A.
O.C.G.A.

O.C.G.A. § 46-8-107 (2019)

Sale of railroad under trust deed, upon foreclosure of mortgage, or by judicial decree - Description of rights and privileges to be exercised and enjoyed by purchasers

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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If any railroad or any part thereof, either completed or in course of construction, is sold under any trust deed, or upon the foreclosure of any mortgage thereon, or by any judicial sale, the parties acquiring title under such sale and their associates, successors, and assigns shall have and acquire and may exercise and enjoy the same rights, privileges, grants, franchises, immunities, and advantages enumerated in or conveyed by said trust deed or mortgage which belonged to and were enjoyed by the company making such deed or mortgage or contracting such debt, as far as the same relate or appertain to that portion of the road or the part or line thereof mentioned or described and conveyed by the mortgage or trust deed, and no further, as fully and absolutely in all respects as the railroad company, or the officers, shareholders, and agents of such company, might or could have had, had not such sale or purchase taken place, provided that nothing in this title shall be construed to reserve or authorize the conveyance of any exemption from taxation, either state, municipal, or county, or any special rights, privileges, and immunities that are not authorized by this title to be granted to all railroads alike, in conformity with the Constitution of Georgia.

History

(Ga. L. 1892, p. 37, § 9; Civil Code 1895, § 2167; Civil Code 1910, § 2585; Code 1933, § 94-303.)

Annotations

Cross references. - Judicial sales generally, § 9-13-140 et seq. Trust deeds,

§ 44-14-120 et seq. Foreclosure on mortgages, § 44-14-160 et seq.

JUDICIAL DECISIONS New charter not necessary. - Under former Civil Code 1895, § 2167 (see O.C.G.A. § 46-8-107) the party or parties acquiring by purchase the title to the property and franchise of a railway company, sold under judicial process, may, if they choose, operate the railroad without obtaining a new charter. If they do this, they are, of course,

responsible to the public and to their employees for the manner in which their business is conducted. Watson v. Albany & N. Ry., 111 Ga. 10, 36 S.E. 324 (1900). Cited in Harrold v. Central of Ga. Ry., 144 Ga. 199, 86 S.E. 552 (1915); Ammons v. Central of Ga. Ry., 215 Ga. 758, 113 S.E.2d 438 (1960).

RESEARCH REFERENCES C.J.S. - 74 C.J.S., Railroads, §§ 436 et seq., 651 et seq. ALR. - Assessment of railroad right of

way for local improvements, 37 ALR 219; 82 ALR 425.