Title 46, Chapter 8, Section 341
( 46-8-341)
All street, suburban, and interurban railroad companies may lease or
sell their roads, franchises, and other property to any other
company created under the laws of this state for street, suburban,
or interurban railroad purposes; and their franchises and property
so sold shall remain liable, in the hands of the lessee or
purchaser, for all debts or claims against the company making the
conveyance. Nothing in this Code section shall be construed to
authorize any such company to sell, lease, or otherwise dispose of
any of its property or franchises so as to defeat or lessen
competition or to encourage monopoly. |