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Terms Used In Indiana Code 36-9-4-12

  • 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.
   Sec. 12. A public transportation corporation is a separate municipal corporation, which shall be known as “__________________ Public Transportation Corporation” (designating the name of the municipality).

[Pre-Local Government Recodification Citation: 19-5-2-10 part.]

As added by Acts 1981, P.L.309, SEC.77.