SEC. 81. A railroad corporation by consent of the stockholders holding a majority of the issued capital stock may mortgage the corporate property and franchises or execute deeds of trust thereof to trustees selected by such stockholders to secure payment of bonds or notes issued by the railroad corporation for the purpose of securing money for its legitimate corporate purposes, including the construction and equipment of its road.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026
CitationAct No. 1459 Section 81 (LawPlayer, data as of July 4, 2026)
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
