Tennessee § 65-6-102 - Issuance of bonds and stock.

§ 65-6-102. Issuance of bonds and stock.

Railroad companies existing under the laws of this state, or of this state and any other state or states, are empowered to issue bonds, and secure the payment thereof by mortgage upon their franchises and property in any state or states, or upon any part of such franchises and property, or to issue income or debenture bonds, and such guaranteed, preferred, and common stock as may be determined upon by the stockholders; provided, the same be approved by the votes of the holders of three-fourths (¾) in amount of the entire stock of the company, at a regular or called meeting of the stockholders of the company, and that ten (10) days' notice be given in a Memphis, Knoxville, and Nashville daily newspaper, of the time, place, and purpose of the meeting. Acts 1881, ch. 9, § 1; Shan., § 1542; impl. am. Acts 1921, ch. 71, § 1; mod. Code 1932, § 2611; T.C.A. (orig. ed.), § 65-602. Cross-References. Bonds for purchase of other railroads, § 65-8-102 . Judgments for timbers, work, or damages to person or property, priority over mortgage, § 65-10-112 . Mortgage foreclosure, sale under decree, rights of purchasers, § 65-8-106 .