§ 39-6.1-9 - Sale of rail properties.
SECTION 39-6.1-9
§ 39-6.1-9 Sale of rail properties. –All rail properties within the state offered for sale by any railwaycorporation after April 9, 1976, shall be offered for sale to the state in thefirst instance at the lowest price at which the railway corporation is willingto sell. The railway corporation shall notify the state in writing if itdesires to offer for sale any rail properties. The state shall have a period ofnot more than ninety (90) days from receipt of the notification to accept theoffer. If the offer is not accepted in writing within the period of time, therailway corporation shall be free to sell the rail properties to any otherparty. For purposes of this section only, rail properties shall mean only thoserail properties for which permission to abandon rail lines thereon has not beengranted by the Interstate Commerce Commission at the time of offer for sale.This section shall apply only to the sale of rail properties and not the saleof easements or similar interests in rail properties. No person, firm, orcorporation shall be permitted to take any of the properties of a railwaycorporation by condemnation.