Section 46-8-42. Certificate of incorporation; duration of corporate existence; fee for issuance of certificate

   (a) When the petition has been filed with the Secretary of State, he shall issue to the company under the great seal of the state the following form of certificate:
      To all to whom these presents may come -- Greetings:
      Whereas, In pursuance of an Act of the General Assembly of the State of Georgia, approved December 17, 1892,     and     (naming the persons who sign the petition) having filed in the office of the Secretary of State a certain petition seeking the formation of a corporation to be known as (here insert name), with a capital stock of $   , for the purpose of constructing, equipping, maintaining, and operating a railroad from     to    , and having complied with the statutes in such cases made and provided; therefore, the State of Georgia hereby grants unto the above-named persons, their successors and assigns, full authority, by and under the said name of    , to exercise the powers and privileges of a corporation for the purposes above stated, subject to the provisions of the Constitution of Georgia, and all the laws governing railroad companies of force at the date of this certificate, or that may hereafter become of force, either by constitutional or statute law, or by any rules and regulations of the Public Service Commission of this state, or otherwise, which govern and control the operation of railroads in this state.
      In witness whereof, these presents have been signed by the Secretary of State, and to which is annexed the great seal of the state, at Atlanta, Georgia, this     day of             ,     .

(b) Upon the issuance of the certificate, the persons who signed the petition and all persons who shall become stockholders in the company shall be a corporation by the name specified in the petition and certificate and shall possess the powers and privileges granted by, and be subject to the provisions of, this title.

(c) The rights, powers, and privileges granted railroad corporations shall continue for a period no longer than 101 years, unless the corporation is continued by the laws in force at the expiration of 101 years.

(d) Before the Secretary issues the certificate, the petitioners shall pay a fee of $100.00 to the Secretary of State.

Ga. L. 1892, p. 37, § 3; Civil Code 1895, §§ 2161, 2166; Ga. L. 1903, p. 34, § 1; Civil Code 1910, §§ 2579, 2584; Code 1933, § 94-103; Ga. L. 1984, p. 22, § 46; Ga. L. 1999, p. 81, § 46.