O.C.G.A. § 46-8-341 (2019)
Lease and sale of roads, franchises, and property between street, suburban, and interurban railroad companies; property purchaser's liability for debts and claims against lessor or vendor
All street, suburban, and interurban railroad companies may lease or sell their roads, franchises, and other property to any other company created under the laws of this state for street, suburban, or interurban railroad purposes; and their franchises and property so sold shall remain liable, in the hands of the lessee or purchaser, for all debts or claims against the company making the conveyance. Nothing in this Code section shall be construed to authorize any such company to sell, lease, or otherwise dispose of any of its property or franchises so as to defeat or lessen competition or to encourage monopoly.
History
(Ga. L. 1890-91, p. 170, § 1; Civil Code 1895, § 2184; Civil Code 1910, § 2614; Code 1933, § 94-1013.)
Annotations
JUDICIAL DECISIONS Lease or sale cannot lessen competition. - Lease or sale cannot be made for purpose of defeating or lessening competition. Trust Co. v. State, 109 Ga. 736, 35 S.E. 323, 48 L.R.A. 520 (1900). Bona fide sale in contemplation of section. - Former Civil Code 1910, § 2614 (see O.C.G.A § 46-8-341) contemplated a bona
fide sale to a purchaser able and willing to carry on and maintain the street railroad business in the city, as obligated by the street railroad company in acceptance of the franchise to do such business. Georgia Power Co. v. City of Rome, 172 Ga. 14, 157 S.E. 283 (1931). Railroad property not to be sold sepa-
rately from light and power property. - Former Civil Code 1910, § 2614 (see O.C.G.A § 46-8-341) did not authorize street railroad company to sell its railroad property
separately from its light and power property. Georgia Power Co. v. City of Rome, 172 Ga. 14, 157 S.E. 283 (1931).
RESEARCH REFERENCES Am. Jur. 2d. - 19 Am. Jur. 2d, Corporations, §§ 2503, 2608, 2610, 2613, 2654, 2659. 65 Am. Jur. 2d, Railroads, §§ 198 et seq., 210 et seq., 224, 230 et seq.
C.J.S. - 19 C.J.S., Corporations, §§ 644-647, 794, 796. 74 C.J.S., Railroads, §§ 431, 436 et seq., 439 et seq., 447 et seq., 478 et seq., 485, 486.