PUBLISHED

N.C.G.S. § 124-12

Powers of a State-owned railroad company.

Effective date: 2026-08-08
Last verified: 2026-08-09
Source: official source
Revision history: view all versions

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.)