Massachusetts General Laws ch. 160 sec. 244 – Lessee to make lessor’s returns
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Section 244. Every railroad corporation shall, during the continuance of any lease which it has taken of the railroad of another corporation, make all the returns required of the lessor; and during the continuance of such lease, the lessor shall not be required to make such returns, if, when requested by the lessee, the lessor furnishes all the information in its possession needed to make such returns; but if a railroad in this commonwealth is leased to a lessee in another state, the lessors in this commonwealth shall make the annual return.
Terms Used In Massachusetts General Laws ch. 160 sec. 244
- Continuance: Putting off of a hearing ot trial until a later time.
- 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