Mich. Comp. Laws § 472.101: Street or electric railway; acquisition of franchise of toll road company; purchase.

Sec. 1.

That any street or electric railway company of this state may purchase all or any portion of the rights and franchise of any toll road company, in any of the streets, avenues or highways of this state, at a valuation to be agreed upon between the directors of the said electric or street railway companies and the board of directors of said toll or plank road company.