No. V-0047 (1947).
Court | Texas |
"The manner of renewing a railroad corporation which has expired by lapse of time shall be as follows:
"1. By a resolution in writing adopted by a majority of three-fourths of the stockholders of the company at a regular meeting of the stockholders, specifying the period of time for which the corporation is renewed.
"2. Those desiring a renewal of the corporation shall purchase the stock of those opposed thereto at its current value.
"3. The resolution, when adopted, shall be certified to by the president of the company; and he shall state in his certificate thereto that it was adopted by a majority vote of three-fourths of all the stockholders of said company at a regular meeting of such stockholders, and that the stockholders desiring such2
renewal have purchased the stock of those who oppose such renewal and such certificate shall be attested by the secretary of the company under the seal of the company.
"4. Said resolution and certificate shall be filed and recorded in the office of the Secretary of State, and the renewal of said corporation shall date from said filing.This article is to be found in Title 112, R.C.S., 1925, entitled "Railroads" and as specific legislation applicable to railroad corporations provides the exclusive method of renewal or extension of railroad charters, the statutes relating to renewal of corporate charters generally being inapplicable. 13 Amer. Juris. p. 228, ¢ 85. The phrase in Article 6268 which causes doubt as to the proper time for filing such resolution is as follows: "The manner of renewing a railroad...
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