1. (a) This article applies to a domestic railroad corporation incorporated before July 1, 1990, if:

   1. (1) the corporation's board of directors adopts a resolution electing to have this article apply to the corporation;
   2. (2) the resolution specifies the date this article will apply to the corporation; and
   3. (3) the resolution is filed in the office of the secretary of state before the date specified under subdivision (2).

2. (b) The following do not apply to a railroad corporation incorporated under this article:

   1. (1) IC 8-4-1-1 through IC 8-4-1-12 .
   2. (2) IC 8-4-2 through IC 8-4-6 .
   3. (3) IC 8-4-8 .
   4. (4) IC 8-4-11-1 .
   5. (5) IC 8-4-12-6 .
   6. (6) IC 8-4-13 through IC 8-4-14 .
   7. (7) IC 8-4-16 .
   8. (8) IC 8-4-21 through IC 8-4-22 .
   9. (9) IC 8-4-24 .
3. (c) Unless otherwise specified in a resolution described under subsection (a), a reference to a statute listed under subsection (b) that is contained in the articles of association of a railroad corporation incorporated under this article shall be treated as a reference to the Indiana Business Corporation Law ( IC 23-1 ).
4. (d) A reference in a statute, other than a statute listed under subsection (b), to a railroad incorporated under a statute listed under subsection (b) shall be considered to include a railroad corporation to which this article applies.

As added by P.L.75-1990, SEC.2. Amended by P.L.1-1993, SEC.190.