Ohio § 1743.02

§ 1743.02.

A corporation organized as a common carrier company may: (A) Make all contracts lawful for natural persons to make for the carriage of persons

and for the storage, forwarding, carriage, and delivery of property, but subject to

the liabilities of natural persons; (B) Lease, hold, and operate any line of railway and its appendages, before or after

its completion, owned by a municipal corporation of this state, any railway connecting

therewith lying without this state, and such portion of any railway within this state

as is necessary for the business of such common carrier company; (C) Construct, or complete and equip, any railway which it is authorized to lease, and

the appendages of such railway; (D) If it operates a steam railroad, borrow money, not exceeding its authorized capital

stock, at a rate of interest not exceeding seven and three-tenths per cent per annum;

 execute bonds or promissory notes therefor, payable in lawful money, in sums of not

less than one hundred dollars;  secure payment of such bonds or notes by mortgage

or pledge of its property then owned or thereafter acquired and of its income or franchises,

including the franchise to be a corporation, though no such mortgage bond shall be

sold at less than par in lawful money, without the consent of a majority in interest

of the stockholders, given at a meeting of the stockholders or in writing;  and exercise

all other powers of a railroad company under the laws of this state, including the

right of appropriation. Any company incorporated or organized in this state may subscribe for or become the

owner of stock in such corporation;  but before such subscription can be made, the

board of directors of the company subscribing must be authorized to make it by a vote

of the majority in interest of such subscribing company's stockholders, or must obtain

their consent thereto in writing.