Section 27: Limit upon time to construct railroad
63 words·~1 min read·
/ma/part-i/title-xxii/chapter-160/27·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 27. If a corporation does not begin the construction of its railroad and expend thereon at least ten per cent of the amount of its original capital stock within two years after the date of its certificate of incorporation, and does not complete and open its railroad for use within four years after said date, its corporate powers and existence shall cease.