NY RR L § 237 (2021)
2021 New York Laws RRD - Railroad Article 6 - Rapid Transit Act of 1875 237 - Abandonment of Portion of Route by Elevated Railroad.

§  237.  Abandonment  of  portion  of route by elevated railroad.  Any   company operating an elevated railroad or railroads in any city of  this   state for the transportation of passengers, mails or freight, and which,   prior to the twenty-ninth day of April, eighteen hundred and ninety-one,   shall  have  built and operated six-tenths of its route as set forth and   embodied in its articles of incorporation, may declare relinquished  and   abandoned  any  portion  of  its said route, which it may deem no longer   necessary for the successful operation of its road and  the  convenience   of  the  public.  Such  declaration  of abandonment to be valid shall be   adopted by the board of directors, under the seal of such  company,  and   shall  be  submitted to the stockholders thereof at a meeting called for   the purpose of taking the same into consideration.  Due  notice  of  the   time  and  place  of holding said meeting and stating the object thereof   shall be given by the company to its stockholders by written or  printed   notices addressed to each of the persons in whose name the capital stock   of  the  company  stands  on  the  books thereof, at the address of such   persons as stated on the books, or as known  to  the  secretary  of  the   company,  and  delivered  or  mailed  to  such  persons,  or  the  legal   representatives of such persons,  respectively,  at  least  thirty  days   before  the  time  of holding the meeting of such company, and also by a   general notice published daily for at least four weeks in some newspaper   last designated for the publication of the session laws or  of  judicial   proceedings  and  legal  notices  in  the county where the route of such   company is  located;  and  at  the  said  meeting  of  stockholders  the   declaration  of  the  said  directors  shall be considered and a vote by   ballot taken for the adoption or  rejection  of  the  same,  each  share   entitling the holder thereof to one vote, and said ballots shall be cast   in  person  or  by  proxy,  and  if  two-thirds  of all the votes of the   stockholders cast in person or by proxy at said meeting shall be for the   adoption of said declaration of abandonment, then  that  fact  shall  be   certified  thereon  by  the  secretary  of  the  company  under the seal   thereof, and the declaration so adopted shall be submitted for  approval   to  the  commissioner  of  transportation,  and if approved by him, such   approval  shall  be  indorsed  thereon,  and  the  said  declaration  so   certified  and indorsed shall be filed and recorded in the office of the   secretary of state, and from the time of such  filing  such  portion  of   said  route  designated  in  such  declaration  of such company shall be   deemed to be abandoned. A copy of such declaration of abandonment,  duly   certified  by  the  secretary of state under his official seal, shall be   presumptive evidence in all courts and places  of  the  facts  which  it   recites,  and  of  the  regularity  of the proceedings resulting in such   abandonment.