(a)  Railroad companies and inland, coast, or ocean transportation companies.- Subject to § 6-101(c) of this article, a Maryland railroad company may acquire, own, hold, pledge, sell, dispose of, endorse, guarantee, or assume the stocks, bonds, and other securities of: 

(1) a Maryland railroad company; 

(2) a railroad company of any other state; and 

(3) an inland, coast, or ocean transportation company. 

(b)  Steamship companies.- A Maryland railroad company may own and operate a line of steamships or steamboats if they can be used wholly or partly, in connection with the business of the Maryland railroad company. 

[An. Code 1957, art. 23, §§ 226, 236; 1998, ch. 8, § 2.]