Colorado Code § 40-23-101

Right to reorganize. Whenever the railroads, property, and franchises of any
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railroad company, organized and existing under the laws of this state, are sold and conveyed
under or by virtue of any power contained in any trust deed or mortgage or pursuant to the
judgment or decree of any court of competent jurisdiction, it is lawful to organize a railroad
company under the laws of this state for the purpose of purchasing, maintaining, operating,
extending, or completing the railroads, property, and franchises so sold and conveyed.

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