Tennessee Code 65-14-103 – Authority to acquire, hold and dispose of stock or bonds
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Terms Used In Tennessee Code 65-14-103
- 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.
Such railroad terminal corporation may acquire, hold, and dispose of the capital stock or bonds of railroad companies or of other terminal companies, for the purpose alone of raising money for the acquisition, construction, maintenance, and repair of such passenger and freight depots and stations, and other terminal facilities mentioned in §§ 65-14-101 and 65-14-102, and not for the purpose of speculating in stocks or bonds, or managing or controlling railroads.