(a) Any company or corporation owning or operating a railroad in this state may apply to the governor to commission such number of its agents, servants or employees as the company shall designate to act as police officers for the company.

(b) The governor, upon such application, shall appoint such persons as the company designates, or as many thereof as the governor deems proper to be such police officers, and shall give commissions to those appointed.

(c) Before entering into the performance of police duties, every police officer so appointed shall take and subscribe an oath of office, and enter into a surety bond in the sum of one thousand dollars ($1,000), payable to the state, conditioned for the faithful performance of such duties. Such oath of office and such bond, with a copy of the commission, shall be filed with the secretary of state.

(d) Each police officer shall have and exercise throughout every county in which the company for which such officer was appointed shall do business, operate, or own property, the power to make arrests for violation of law on the property of such company, and to arrest persons, whether on or off such company's property, violating any law on such company's property, under the same conditions under which deputy sheriffs or other peace officers may by law make arrests, and shall have authority to carry weapons for the reasonable purpose of their offices. The keepers of jails in any county or municipality wherein the violation occurs for which any such arrest is made shall receive all persons arrested by such police officer to be dealt with according to law, and persons so arrested shall be received by keepers of jails on the same basis and shall have the same status as prisoners arrested by any other police officer.

(e) Every police officer so appointed shall, when on duty, carry a badge or identification card identifying the officer as a member of the police department of such railroad company for or which such officer is appointed, and the officer shall exhibit such badge or identification card, on demand, and before making an arrest.

(f) The compensation for such police officers shall be paid by the company for which they are respectively appointed.

(g) When a company no longer requires the services of a police officer so appointed, it shall file a notice to that effect with the secretary of state. Thereupon, the powers of such police officer shall cease and terminate.

(h) Any person commissioned as a police officer pursuant to this section shall, prior to such commission, receive peace officer standards and training certification.