---
urn: urn:us-la:rs:45:616
citation: "R.S. 45:616"
status: active
breadcrumb: "Title 45 › Chapter 6 › Part VIII"
acts_citations:
---

# Stockholders' approval of sale

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.