388.310. Liability of companies for debts after sale — consolidation — lease — assignment — suits for recovery authorized.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

388.310. Liability of companies for debts after sale — consolidation — lease — assignment — suits for recovery authorized. — 1. Whenever any railroad, street railway, terminal or other railway corporation owning, operating, maintaining, managing or running any railway or railroad, of any kind whatsoever, in this state, shall sell, transfer, consolidate, lease or assign any such railroad, or railway, or any part thereof or interest therein, to or with any other railroad, railway, corporation, person or persons, such railroad, railway, corporation, person or persons, and its or their successors and assigns, shall take and hold the same subject to the payment of all judgments, claims, debts, liens and liabilities existing against such railroad, street railway, terminal or other railway corporation, at the time of the sale, transfer, consolidation, lease or assignment thereof.

And whenever any such railroad, street railway or other railway company or corporation, or any receiver thereof, shall lease its road or tracks or any part thereof to any other company or corporation, or shall license or permit any other company or corporation, under any running agreement, to run cars, engines or rolling stock upon its road or track, in this state, the company or corporation so leasing its road, or such part thereof, to such other company or corporation, or so licensing or permitting the use of its road or track by such other company or corporation, shall remain liable for all acts, debts, claims, demands, judgments and liabilities of the lessee or licensee, or any sublessee or sublicensee, company or corporation, the same as if it (the lessor or licensor) operated the road, or such part thereof, itself; and such lessee or licensee shall likewise be held liable and may sue and be sued in all cases and for the same causes, and in the same manner, as if operating its own road; provided, however, that a satisfaction in full of any claim or judgment by either of such corporation or company shall discharge the other.

2. And suit may be brought upon any such claim, debt, lien or liability against either the corporation to whom any such sale, transfer, lease, or assignment has been made, or with which such consolidation has been had, or against the corporation so selling, transferring, leasing, consolidating or assigning, or against both such corporations, jointly, at the option of such claimant, and if any suit shall be pending against the corporation so selling, transferring, leasing, assigning, at the time of any such sale, transfer, consolidation, lease or assignment, the plaintiff therein may, at his option, and upon motion, have the corporation or person so purchasing, receiving, acquiring or taking, made a party defendant jointly with the other defendant, but such plaintiff's failure to have such corporation made a defendant in the case shall not in any manner prevent or bar such plaintiff from enforcing any judgment obtained in such suit against the corporation so acquiring, purchasing or taking such railroad, or railway, or part thereof, as above provided.

And for the purposes of jurisdiction and service of process, the servants, agents, employees, officers and offices of either of such corporations or person shall be held to be the agents, servants, employees, officers and offices of both, and service upon the agent, officer or employee of either corporation shall be held and deemed sufficient and valid service upon both of such corporations.

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(RSMo 1939 § 5163)

Prior revisions: 1929 § 4690; 1919 § 9880; 1909 § 3079