{
  "urn": "urn:us-la:rs:45:616",
  "title_number": "45",
  "section_number": "616",
  "citation": "R.S. 45:616",
  "heading": "Stockholders' approval of sale",
  "text": "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.\n\nIn either case, sixty days' public notice calling such meeting shall be given in a newspaper published at the domicile of each company.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "45",
      "name": "PUBLIC UTILITIES AND CARRIERS"
    },
    {
      "level": "chapter",
      "number": "6",
      "name": "RAILROADS"
    },
    {
      "level": "part",
      "number": "VIII",
      "name": "SALES AND LEASES"
    }
  ],
  "breadcrumb": "Title 45 › Chapter 6 › Part VIII",
  "acts_citations": [],
  "acts_citations_raw": null,
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=100050",
  "website_law_id": 100050,
  "scrape_timestamp": "2026-05-22T23:29:24Z",
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}