New Mexico § 63-2-12 - Aiding other roads; operating jointly; assent of stockholders

§ 63-2-12. Aiding other roads; operating jointly; assent of stockholders

Any railroad company organized under the laws of this state, may at any time by means

of subscription to the capital of any other company or otherwise aid such company

in the construction of its railroad within or without the state, for the purpose of

forming a connection with the said last mentioned road with the road owned by the

company furnishing such aid, or any railroad organized in pursuance of law, either

within this state or any other state or territory, may lease or purchase any part

or all of any railroad constructed, owned or leased by any other company, upon such

terms and conditions as may be agreed on between such companies respectively, or any

two or more railroad companies may enter into any arrangement for their common benefit

consistent with, and calculated to promote the objects for which they were created:

provided, that no such aid shall be furnished, nor any purchase, lease, subletting

or arrangements be perfected until a meeting of stockholders of such company of this

state, party to such agreement, shall have been called by the directors thereof, at

such time and place and in such manner as they shall designate, and the holders of

at least two-thirds of the stock of such company represented at such meeting, in person

or by proxy, and voting thereat, shall have assented thereto.