{"data":{"id":"us-la/rs-45-616","jurisdiction":"us-la","citation":"RS 45:616","heading":"Stockholders' approval of sale","body":"In order for a conventional sale of any railroad, its property, rights, and franchises to take place and be valid, it shall be approved and ratified by two-thirds of the capital stock of each of the contracting companies respectively, at a stockholders' meeting called for that purpose. The purchase by a railway corporation at judicial sale, shall be authorized and approved by two-thirds of the capital stock of the purchasing company, at a stockholders' meeting convened for that purpose.\nIn either case, sixty days' public notice calling such meeting shall be given in a newspaper published at the domicile of each company.","path":["TITLE 45. PUBLIC UTILITIES AND CARRIERS"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=100050","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T05:01:55Z","sha256":"c0995a27a7cfd52555a83574238005446cb736c5f1631baed77bcb30cfc6d199","source_id":"us-la","stale":false,"prev":"us-la/rs-45-615","next":"us-la/rs-45-617"},"notice":"GroundRules: Original legal text. Not legal advice."}