610 ILCS 65/ Railroad Bond Guarantee Act.

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610 ILCS 65/0.01

(610 ILCS 65/0.01) (from Ch. 114, par. 49a.9)

Sec. 0.01.

Short title.

This Act may be cited as the

Railroad Bond Guarantee Act.

(Source: P.A. 86-1324.)

610 ILCS 65/1

(610 ILCS 65/1) (from Ch. 114, par. 49b)

Sec. 1.

Any railroad corporation organized and existing under the
laws of this State or existing by consolidation of different railroad
corporations under the laws of this State and any other State, which
owns more than fifty per cent of the capital stock of another
corporation which capital stock it is authorized to own, is authorized
by action of its board of directors to guarantee the payment of the
principal and/or interest of the bonds or other obligations of such
other corporation. Any such railroad corporation which jointly with
other railroad corporations owns more than fifty per cent of the capital
stock of another corporation which capital stock it is authorized to
own, is authorized by action of its board of directors to join with such
other railroad corporations in guaranteeing the payment of the principal
and/or interest of the bonds or other obligations of such other
corporation whose capital stock is so owned.

(Source: Laws 1929, p. 591.)

610 ILCS 65/1.1

(610 ILCS 65/1.1) (from Ch. 114, par. 49b.1)

Sec. 1.1.

This Act does not apply to railroads incorporated after July
1, 1985, or to railroads which are reincorporated under the Business
Corporation Act of 1983, as amended.

(Source: P.A. 84-796.)