Colorado § 40-20-105 - Construction started within two years.
Full text of Colorado Colorado Revised Statutes § 40-20-105 — Construction started within two years., with citation guidance and answers to common questions.
§ 40-20-105. Construction started within two years.
If any railway corporation, within two years after its articles of association have been filed and recorded, does not begin the construction of its road and expend thereon twenty percent of the amount of its capital within five years after the date of its organization, its corporate existence and power shall cease; but any such railway corporation at any time may reduce its capital stock in the manner and form provided by the laws of this state, and if twenty percent of the amount of its capital, as so reduced, has at any time been expended in good faith in the construction of its road, then its corporate existence and power shall not cease or be deemed to have ceased.
Source: G.L. § 303. G.S. § 337. L. 1889: p. 95 § 1. R.S. 08: § 5413. C.L. § 2818. CSA: C. 139, § 4. CRS 53: § 116-1-5. C.R.S. 1963: § 116-1-5.
ANNOTATION
Section may be used as defense in condemnation proceeding. Where a railroad company, seeking to acquire by condemnation the property of another, has by reasons of nonfulfillment of the requirements of this section lost its corporate rights or powers, that fact may be set up by way of defense in the condemnation proceedings. People ex rel. Union Pac. Ry. v. Colo. E. Ry., 8 Colo. App. 301, 46 P. 219 (1896).
Frequently Asked Questions About Colorado § 40-20-105
What does Colorado Revised Statutes § 40-20-105 cover?
Section 40-20-105 ("Construction started within two years.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 40-20-105?
A common citation format is "Colorado Revised Statutes § 40-20-105" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 40-20-105 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.