Montana Code 69-14-1101. Definitions
69-14-1101. Definitions. As used in this part, the following definitions apply:
Terms Used In Montana Code 69-14-1101
- 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.
- Labor organization: means any organization or association of any kind in which employees participate and that exists for the primary purpose of dealing with employers concerning grievances, labor disputes, wages, rates of pay, hours of employment, fringe benefits, or other conditions of employment. See Montana Code 69-14-1101
- 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 or other entity as well as a natural person. See Montana Code 1-1-201
- railroad: means a corporation, company, or individual owning or operating a railroad in whole or in part in this state. See Montana Code 69-14-102
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(1)”Buyer” means a person, corporation, association, business entity, labor organization, the state of Montana or any of its political subdivisions, or any other entity that acquires a line of railroad, by purchase, lease, or other agreement, to continue the commercial transportation of goods or passengers.
(2)”Labor organization” means any organization or association of any kind in which employees participate and that exists for the primary purpose of dealing with employers concerning grievances, labor disputes, wages, rates of pay, hours of employment, fringe benefits, or other conditions of employment.
(3)”Seller” means a person, corporation, association, or business entity that transfers a line of railroad by sale, lease, or other agreement.
(4)”Transaction” means the limited purchase, sale, or transfer of part of a line of railroad that will be operated by a common rail carrier.