Indiana § 8-4-22-1 - Approval of lease or purchase required
Full text of Indiana Indiana Code § 8-4-22-1 — Approval of lease or purchase required, with citation guidance and answers to common questions.
§ 8-4-22-1. Approval of lease or purchase required
Sec. 1. Any railroad company organized under the laws of Indiana, or created by consolidation of a company or companies organized under the laws of Indiana, and a company or companies organized under the laws of another state or states may lease or purchase, in whole or in part, the connecting or continuous and noncompeting line of any railroad in any other state, together with all its rights, powers, privileges, franchises, and immunities. However, a sale or lease may not be made under this chapter without the approval of:
(1) the stockholders owning not less than two-thirds (2/3) of the outstanding capital stock of each of the companies that are parties to such lease or sale; and
(2) the Indiana department of transportation.
Formerly: Acts 1921, c.126, s.1. As amended by P.L.384-1987(ss), SEC.49; P.L.18-1990, SEC.57.
IC 8-4-23Chapter 23. RepealedRepealed by Acts 1975, P.L.28, SEC.1.
IC 8-4-24Chapter 24. Purchase and Sale of Defunct Railroads
8-4-24-1Certificate of sale; public lease; sale notice 8-4-24-2Powers, privileges, facilities, and franchises 8-4-24-3Reciprocity; foreign corporations 8-4-24-4Liens and encumbrances 8-4-24-5Place of sale 8-4-24-6Surrender or assignment of stock; acquisition of stock in reorganized company 8-4-24-7Settlement of former account 8-4-24-8Amendment or repeal of chapter
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 8-4-22-1
What does Indiana Code § 8-4-22-1 cover?
Section 8-4-22-1 ("Approval of lease or purchase required") is part of the Indiana Code, the codified statutory law of Indiana. 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 Indiana § 8-4-22-1?
A common citation format is "Indiana Code § 8-4-22-1" (Indiana). 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 Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 8-4-22-1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana 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 Indiana.