The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 5 V.S.A. § 3427)
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§ 3427. Alien railroad corporations; exceptions
(a) An alien railway corporation shall not be directly or indirectly interested in any
of the stock of a railroad corporation organized under the laws of this State without
leave of the General Assembly. However, nothing in this section shall apply to the
stock of any railroad corporation now or hereafter organized that shall own or operate
all or any part of the railroad or other property owned or operated by a railroad
corporation at any time prior to February 15, 1929, a majority of whose stock was
owned, held, or controlled by an alien railway corporation, or by any of its subsidiary
or affiliated companies or corporations, directly or indirectly, at any time prior
to such date.
(b) An alien railway corporation shall not, by itself or through others, own or acquire
title to any railroad, or the use thereof, or have anything to do with the management
or control of a railroad in this State without leave of the General Assembly. However,
nothing in this section shall apply to a railroad that at any time prior to February
15, 1929, in whole or in part, was owned, managed, operated, or controlled, or title
to which or the use of which was acquired by any alien railway corporation, or by
any of its subsidiary or affiliated companies or corporations, whether by itself or
with others and whether directly or indirectly by stock ownership, lease, operating
agreement, or otherwise.