Section 131A: Application of business corporation to acquire, own and operate terminal facilities; notice; hearing; approval
163 words·~1 min read·
/ma/part-i/title-xxii/chapter-160/131a·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 131A. Any corporation organized under chapter one hundred and fifty-six may apply to the department for an order qualifying the corporation to acquire, by purchase or otherwise, and to own and operate terminal facilities for steam, electric or other types of railroad. The corporation shall agree that its operations, when qualified hereunder, shall be subject to the jurisdiction of the department, and any operating agreements entered into in connection therewith shall be subject to the approval of the department as to their reasonableness.
If the department finds, after a public hearing of which notice shall be given by publication in one or more newspapers in the city wherein the terminal is to be located, that the granting of the petition is in the public interest, it shall so certify by order which shall be filed with the state secretary and the corporation shall thereupon be qualified to own and operate the land, buildings and other property used for such railroad terminal facilities.