§ 65. Purchase of abandoned real property or real property of bankrupt railroad company--Priori...
Oklahoma Statutes AnnotatedTitle 66. Railroads
66 Okl.St.Ann. § 65
§ 65. Purchase of abandoned real property or real property of bankrupt railroad company--Priority--Price
A. 1. Any person who owns real property adjacent to real property owned by a railroad company shall have first priority to purchase such real property, at the price provided by subsection D of this section, from the railroad company upon the bankruptcy of the railroad company or the abandonment of the real property as determined by the Interstate Commerce Commission and offered for sale if such real property is not purchased within one (1) year by:
3. Provided, if more than one of the parties named in paragraph 1 or 2 of this subsection shall offer to purchase, they shall be granted a preference in the order specified in this subsection. If two (2) or more people own property adjacent to the same portion of railroad property, the person from whose property such railroad property was taken shall be entitled to the priority provided for in this section.
B. Notice for the sale of any real property under the provisions of this section shall be given by the bankruptcy court, the receiver, or the railroad company by publication once a week for two (2) consecutive weeks in a newspaper authorized by law to publish legal notices in the county where the real property is located.
E. However, for any railroad company purchasing property under subparagraph a of paragraph 1 of subsection A of this section, the Corporation Commission shall certify the intent of said railroad company to continue operation of rail service on said property as a prerequisite to making such purchase.
Credits
Laws 1981, c. 241, § 1, emerg. eff. June 23, 1981; Laws 1988, c. 289, § 14, operative July 1, 1988; Laws 1991, c. 266, § 1, emerg. eff. May 27, 1991.
66 Okl. St. Ann. § 65, OK ST T. 66 § 65
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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