Illinois Compiled Statutes 610 ILCS 5/20 – The rolling stock and all other movable property belonging to any …
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Terms Used In Illinois Compiled Statutes 610 ILCS 5/20
- 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.
- Personal property: All property that is not real property.
The rolling stock and all other movable property belonging to any such corporation, shall be considered personal property, and shall be liable to execution and sale, in the same manner as the personal property of individuals.