O.C.G.A. § 46-8-80 (2019)
Contracts between railroad companies for merger, consolidation, lease, or purchase for purposes of connecting the roads of the companies
Any railroad company incorporated under this chapter shall have the power to make contracts with any other railroad company which has constructed or hereafter constructs any railroad within this state for the purpose of enabling the companies to run their roads in connection with each other and merge their stocks, or to consolidate with each other, or to lease or purchase property and to hold, use, and occupy the same in such manner as they may deem most beneficial to their interests, provided that no railroad shall purchase a competing line of railroad or enter into any contract with a competing line of railroad calculated to defeat or lessen competition in this state. Any violation of this Code section shall subject the corporation to all the penalties incident to such violation of the law.
History
(Ga. L. 1892, p. 37, § 13; Civil Code 1895, § 2173; Civil Code 1910, § 2591; Code 1933, § 94-311.)
Annotations
JUDICIAL DECISIONS Lease of franchises lawful. - Under the charter of a railroad company and the amendment thereto adopting the general law including former Civil Code 1895, § 2173 (see O.C.G.A. § 46-8-80) it had lawful authority to lease to another its franchises as to the transportation of both freight and passengers on another road. Georgia R.R. & Banking Co. v. Maddox, 116 Ga. 64, 42 S.E. 315 (1902). Cited in State v. Central of Ga. Ry., 109 Ga.
716, 35 S.E. 37, 48 L.R.A. 351 (1900); Bridwell v. Gate City Term. Co., 127 Ga. 520, 56 S.E. 624, 10 L.R.A. (n.s.) 909 (1907); Gregory v. Georgia G.R.R., 132 Ga. 587, 64 S.E. 686 (1909); Norman v. Southwestern R.R., 42 Ga. App. 812, 157 S.E. 531 (1931); South W.R.R. v. Benton, 206 Ga. 770, 58 S.E.2d 905 (1950); Long v. Atlanta & W.P.R.R., 253 Ga. 257, 320 S.E.2d 530 (1984).
RESEARCH REFERENCES Am. Jur. 2d. - 13 Am. Jur. 2d, Carriers, §§ 55 et seq., 93. 19 Am. Jur. 2d, Corporations, §§ 2608, 2609. 65 Am. Jur. 2d, Railroads, § 198 et seq.
C.J.S. - 19 C.J.S., Corporations, §§ 794, 795. 74 C.J.S., Railroads, §§ 477, 478 et seq. ALR. - Period covered by covenant or condition subsequent for maintenance of railroad, 7 ALR 817.