N.Y.
Transportation Corporations Law Section 43
Powers
1.
To lay and maintain its pipes and hydrants for delivering and distributing water in any street, highway or public place of any city, town or village in which it has obtained the consent required by § 41 (Municipal consent to incorporation)section forty-one of this article.2.
To lay its water pipes in any streets or avenues or public places of an adjoining city, town or village; provided that such right in an adjoining city or village having a population of more than twelve thousand inhabitants shall be subject to the permission of the local authorities thereof and upon such conditions as they may prescribe.3.
To cause examinations and surveys to be made to determine the proper location of its waterworks, and for such purpose by its officers, agents or servants to enter upon any lands or waters, subject to liability for all damages done.4.
To enter into appropriate agreements with the secretary of agriculture of the United States department of agriculture to operate without profit for the term specified therein for the purpose of qualifying to receive federal assistance pursuant to the consolidated farmers home administration act of nineteen hundred sixty-one and any federal laws amendatory and supplementary thereto. Any such agreement to operate without profit shall be subject to the approval of a majority of the stockholders entitled to vote thereat at any regular or special stockholders’ meeting. Any stockholder so entitled to vote who does not vote for or consent in writing to the taking of this action, shall, subject to and by complying with the provisions of Business Corporation Law § 623 (Procedure to enforce shareholder’s right to receive payment for shares)section six hundred twenty-three of the business corporation law, have the right to receive payment of the fair value of his stock and the other rights and benefits provided by such section.
Source:
Section 43 — Powers, https://www.nysenate.gov/legislation/laws/TCP/43 (updated Sep. 22, 2014; accessed Oct. 26, 2024).
