{"data":{"id":"us-ky/krs-280.140","jurisdiction":"us-ky","citation":"KRS 280.140","heading":"Consolidation of corporations operating toll bridges across boundary","body":"streams.\n(1) When a corporation heretofore or hereafter organized under the general\nincorporation laws of this state for the purpose of constructing, maintaining and\noperating a bridge across a river forming a boundary line of this state has, with the\nconsent of its stockholders, heretofore consolidated, or may hereafter consolidate,\nwith a corporation organized for the same purpose under the laws of any other state,\nthe consolidated corporation shall, upon filing a verified copy of the agreement of\nconsolidation with the Secretary of State, have the rights, powers, privileges and\nimmunities of a corporation under the laws of this state, and shall become a\ncorporation of this state, wi th the right of perpetual succession. The consolidated\ncorporation shall have the power to construct, maintain and operate such a bridge,\nand the power to condemn land in this state necessary for the construction,\noperation and maintenance of the bridge an d its avenues, approaches and necessary\nappurtenances, the proceedings to be conducted in the manner prescribed by law for\nthe condemnation of lands for railroad purposes. No bridge constructed under this\nsection, nor any main or principal approach thereof , shall cross any railway at grade\nthereof.\n(2) The consolidated corporation may increase its capital stock from time to time to an\namount sufficient for the construction of the bridge, but not to exceed the amount of\nthe capital stock authorized in the ar ticles of incorporation of its Kentucky\nconstituent corporation, and may create an indebtedness not exceeding the amount\nof its capital stock, and secure the indebtedness by a mortgage upon its property,\nfranchises and rights.\n(3) The filing of a copy of t he agreement of consolidation with the Secretary of State\nshall operate as an acceptance by the consolidated corporation of the provisions of\nthe Constitution and of all the provisions of this section and of KRS 280.150.","path":["KRS Chapter 280"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14251","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:32Z","sha256":"4db67ac0944a85cb4900b64c90b1d24816faec01eab675f2b2b43463724f3342","source_id":"us-ky","stale":false,"prev":"us-ky/krs-280.130","next":"us-ky/krs-280.150"},"notice":"GroundRules: Original legal text. Not legal advice."}