Public Utilities and Carriers

Railroad Companies

SECTION 39-6-24

§ 39-6-24. Redemption of franchise and property from sale on execution.

The franchise and property of a railroad corporation may be redeemed by it, or any mortgagee thereof, from sale on execution by paying or tendering to the purchaser the sum paid therefor at the sale, with interest, at any time within sixty (60) days after the final determination of any appeal to reverse the judgment upon which the execution issued, or of any suit to test the validity of the sale, brought before the sale or within sixty (60) days thereafter; but nothing in this section shall be construed as authorizing a sale.

History of Section.
(G.L. 1896, ch. 177, § 16; G.L. 1909, ch. 213, § 16; G.L. 1923, ch. 251, § 63; G.L. 1938, ch. 124, § 63; G.L. 1956, § 39-6-24; P.L. 1997, ch. 326, § 109.)