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Code · Utah · Title 56 — Railroads · Chapter 1

56-1-3. Stock subscriptions -- Minimum requirements.

84 words·~1 min read·/ut/title-56/chapter-1/56-1-3

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56-1-3. Stock subscriptions -- Minimum requirements.
The Division of Corporations and Commercial Code shall not issue a certificate of incorporation to any railroad corporation which proposes to construct a railroad until it shall appear by the affidavit of at least three of the incorporators that $1,000 for each mile in length of the railroad proposed to be constructed shall have been subscribed, and that 10% of the stock subscribed by each stockholder has been paid in.
Amended by Chapter 67 , 1984 General Session
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