No such corporation shall be formed to continue more than fifty years in the first instance, but such corporation may be renewed from time to time, in such manner as may be provided by law, for periods not longer than fifty years.
Source: G.L. § 299. G.S. § 334. R.S. 08: § 5419. C.L. § 2822. CSA: C. 139, § 8. CRS 53: § 116-1-14. C.R.S. 1963: § 116-1-14.
ANNOTATION
Under this section railroad companies may continue to exercise their franchises for the period of 50 years, with a provision for their renewal. Virginia Canon Toll-Road Co. v. People ex rel. Vivian, 22 Colo. 429, 45 P. 398 (1896).