Tennessee Code 65-14-105 – Leasing of terminal facilities to railroad companies
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Terms Used In Tennessee Code 65-14-105
- 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
The corporation may lease to any railroad company or railroad companies its freight or passenger depots or stations, and its other terminal facilities located at any place where the line or lines of the railroad company or companies may terminate, or through which they may pass, and such lease may be upon such terms and for such time as may be agreed upon by the parties.