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Powers of a State-owned railroad company.

G.S. 124-12
in effect
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§ 124-12.  Powers of a State-owned railroad company. A State-owned railroad company shall have, in addition to the powers of any railroad corporation, the power to: (1) Lease, license, or improve property. - A State-owned railroad company may lease, license, or improve its right-of-way and property, whether held by easement, presumptive grant, express grant, or otherwise, for the purpose of preserving and protecting its railroad corridor and franchise. (2) Condemnation in fee simple. - A State-owned railroad company may exercise the power of eminent domain to acquire property in fee simple for the purposes specified in G.S. 40A-3(a)(4). The procedures of Article 2 of Chapter 40A of the General Statutes shall apply to the exercise of the power of eminent domain under this subdivision. (2000-146, s. 7.)
Source: North Carolina General Assembly (ncleg.gov)URL: https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_124/GS_124-12.htmlFetched: 10/19/2026

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