Section 25. A domestic electric utility shall not be subject to the provisions of section ten of chapter one hundred eight-one in the event a foreign corporation, as defined in said chapter, owns or controls a majority of the capital stock of said domestic electric utility, provided such ownership or control results from action pursuant to authority granted by this chapter.

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Terms Used In Massachusetts General Laws ch. 164A sec. 25

  • 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.