Usufruct
R.S. 45:616

Stockholders' approval of sale ACTIVE

In order for a conventional sale of any railroad, its property, rights, and franchises to take place and be valid, it shall be approved and ratified by two-thirds of the capital stock of each of the contracting companies respectively, at a stockholders' meeting called for that purpose. The purchase by a railway corporation at judicial sale, shall be authorized and approved by two-thirds of the capital stock of the purchasing company, at a stockholders' meeting convened for that purpose.

In either case, sixty days' public notice calling such meeting shall be given in a newspaper published at the domicile of each company.

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Cite R.S. 45:616

Bluebook
La. Rev. Stat. Ann. § 45:616 (2026).
Permalink
https://theusufruct.com/rs/title-45/section-616
BibTeX
@misc{larevstat-45-616,
  title        = {La. Rev. Stat. Ann. § 45:616},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-45/section-616},
  note         = {Snapshot 2026-05-22}
}