Section 146. Foreclosure of mortgages made by consolidated railroads partly in the state  


Latest version.
  • Whenever a railroad corporation of this or of  any  other
      state  or states whose line of road lies partly in this state and partly
      in another state or states, shall have  executed  a  mortgage  upon  its
      entire  line  of  railroad,  and a sale of the entire line of road under
      such mortgage shall have been or may hereafter be ordered, adjudged  and
      decreed  by a court of competent jurisdiction of the state or states, or
      by a court of the United States sitting within the state  or  states  in
      which  the  greater  part of such line of railroad may be situated, upon
      the confirmation of such judgment  or  decree,  and  of  the  sale  made
      thereunder,  by  the supreme court of this state or by the circuit court
      of the United States in the judicial district in which some part of such
      line of road is situated, such sale shall operate to pass title  to  the
      purchaser,  of  that  part  of the line of railroad lying in this state,
      together with its appurtenances and franchises, with the same force  and
      effect  as  if  the judgment or decree under which such sale is had, had
      been made by a court of  competent  jurisdiction  of  this  state.  Such
      judgment  or  decree  and  sale  may be so ordered, adjudged, decreed or
      confirmed in any action or proceeding heretofore or hereafter brought in
      the supreme court, or in a court of the United States  sitting  in  this
      state,  for the foreclosure of such mortgage, or in aid of an action for
      that purpose in such other state or states, if it shall appear that such
      confirmation is for the interest of the public and of the  parties,  due
      and  lawful  provision  being  made for and in respect of any liens upon
      that part of the line of road or other property  sold  situate  in  this
      state, and for such costs, expenses and charges as may appear to be just
      and lawful. If a receiver of the entire line of such railroad shall have
      been,  or  may  hereafter  be  appointed  by  such  court  of  competent
      jurisdiction of the state in which the  greater  part  of  the  line  of
      railroad is situated, or by a court of the United States sitting in such
      other state, such receiver may perform, within this state, the duties of
      his office not inconsistent with the laws of this state, and may sue and
      be sued in the courts of this state.