Sec. 32. If any such corporation shall not, within three (3) years after its incorporation, begin the construction of its road, and expend thereon five (5) per cent of the amount of its capital, and finish the road and put it in full operation in ten (10) years thereafter, its act of incorporation shall become void.
Ind. Code § 8-4-1-32
Failure to complete road; voiding of corporation
Formerly: Acts 1852, 1RS, c.83, s.34.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.