O.C.G.A. § 46-8-40 (2019)
Grant of corporate powers and privileges to railroad companies by Secretary of State; procedure in case of disqualification of Secretary of State
All corporate powers and privileges of railroad companies shall be issued and granted by the Secretary of State upon the terms, liabilities, and restrictions expressed in and subject to all the provisions of this chapter and of the Constitution of Georgia. If by reason of interest in the proposed corporation the Secretary of State is disqualified, the duties required to be performed by the Secretary of State shall be performed by the Commissioner of Insurance.
History
(Ga. L. 1880-81, p. 156, § 1; Code 1882, § 1689a; Ga. L. 1882-83, p. 135, § 1; Civil Code 1895, § 2159; Civil Code 1910, § 2577; Code 1933, § 94-101; Ga. L. 1986, p. 855, § 26.)
Annotations
JUDICIAL DECISIONS
Railroad company may exist as corporation de facto. - Where special charters of two railroad companies are unconstitutional and therefore wholly void, each of said companies is nevertheless a corporation de facto, and as such can acquire and own property and are bound to its creditors by all acts which would bind it had it been duly incorporated under the general law. McTighe v. Macon Constr. Co., 94 Ga. 306, 21 S.E. 701, 47 Am. St. R. 153, 32 L.R.A. 208 (1894).
Special charter may be granted to street railroads. - Even if, after the passage of former Civil Code 1895, § 2159 (see O.C.G.A. § 46-8-40) the General Assembly could not constitutionally grant a special charter to a railroad company of the kind contemplated by the provisions of that law, inasmuch as that law is not applicable to street railroad companies, the General Assembly could, after its enactment, constitutionally grant a special charter to a railroad company of the latter kind, and in doing so, could authorize such a company to extend its line to a suburban terminus beyond the limits of the town or city in which the same was to be located. Dieter v. Estill, 95 Ga. 370, 22 S.E. 622 (1895); Brown v. Atlanta Ry. & Power Co., 113 Ga. 462, 39 S.E. 71 (1901).
Cited in English v. Rosenkrantz, 152 Ga. 726, 111 S.E. 198 (1922); Dame v. Lee, 180 Ga. 315, 178 S.E. 752 (1935).
RESEARCH REFERENCES
Am. Jur. 2d. - 18A Am. Jur. 2d, Corporations, §§ 150, 151, 214. 65 Am. Jur. 2d, Railroads, § 6.
21 Am. Jur. Pleading and Practice Forms, Railroads, § 242.
C.J.S. - 18 C.J.S., Corporations, § 37. 74 C.J.S., Railroads, § 27.
ALR. - Grant of perpetual franchise to public service corporation, 2 A.L.R. 1105.