§ 489-q. Reports to commissioner. Each railroad company shall furnish the commissioner the following:
1. A copy of all income, profit and loss and other financial statements filed with the interstate commerce commission and the commissioner of transportation; and
2. Such other reports as the commissioner may from time to time require containing such information and data as it may specify, including cost and valuation data relating to or an inventory of the railroad real property of such company situated in each assessing unit, in order to carry out the provisions of this title.
3. Each railroad company shall pay an annual charge to the state office. All costs and expenses of the state office, direct and indirect, incurred in the establishment of railroad ceilings pursuant to this title shall be paid from the collection of an annual charge upon railroad companies. The commissioner shall provide by rule for computation of this charge through the apportionment of these costs and expenses to railroad companies in direct relation to the value of such real property subject to the ceiling. Charges shall be subject to the annual approval of the director of the budget. Any unpaid charge shall be a lien upon the assets of the company and may be enforced by appropriate administrative and judicial proceedings commenced by counsel to the state office.
4. Any railroad company failing to make any report required by or pursuant to this section within a reasonable time specified by the commissioner shall forfeit to the people of the state the sum of one hundred dollars for each failure and the additional sum of fifty dollars for each day that such failure continues. Acknowledgment of receipt of blank reports which contain the penalty provisions of this section shall be deemed sufficient notice of such penalties.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.