Every corporation formed under this chapter shall commence the construction of its road within two years after the date of the filing of its articles of incorporation in the office of the secretary of state and shall finish and put the same in full operation within six years thereafter or its right to further complete the same, in the discretion of the legislature of this state, may be forfeited.
History: Laws 1878, ch. 1, ch. [tit.] 8, § 24; C.L. 1884, § 2688; C.L. 1897, § 3877; Code 1915, § 4703; C.S. 1929, § 116-304; 1941 Comp., § 74-212; 1953 Comp., § 69-2-12; 2013, ch. 75, § 40.
ANNOTATIONSCompiler's notes. — For meaning of "this chapter", see compiler's notes to 63-1-8 NMSA 1978.
The 2013 amendment, effective July 1, 2013, provided a time limit, after articles of incorporation are filed with the secretary of state, within which to complete the road; added the title of the section; and after "in the office of the", deleted "state corporation commission" and added "secretary of state".
Am. Jur. 2d, A.L.R. and C.J.S. references. — 74 C.J.S. Railroads § 123.