Texas Transportation Code

§ 131.035 — LIMITATION ON ACQUISITION

TN § 131.035Title 5. RAILROADS · Part D. MISCELLANEOUS RAILROADS · Ch. 131. MISCELLANEOUS RAILWAYS · Art. C. MERGER OF INTERURBAN RAILWAY

Statute text

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A corporation described by this subchapter may not:

(1)acquire, own, control, or operate a parallel or competing interurban line; or

(2)purchase, lease, acquire, own, or control, directly or indirectly, the shares or certificates of stock or bonds, a franchise or other right, or the physical property or any part of the property, of any corporation in violation of the law commonly known as the antitrust law.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.03, eff. April 1, 2011.