Idaho Code 42-2507 – Transfer of Stock Certificates Evidencing Water Right
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 42-2507
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- person: includes a corporation as well as a natural person;
Idaho Code 73-114
When a transfer of a water right or of a portion thereof is made effectual under this chapter otherwise than by lease the certificate or certificates evidencing the ownership thereof shall be surrendered to the corporation, and the officers of the corporation shall issue new certificates to the person or persons entitled thereto, specifying the land or lands to which the water right is appurtenant after such transfer and the amount of such right which is appurtenant to any of said lands.