Tennessee Code 65-14-106 – Lessee railroads – Guarantee of principal and interest of bonds and other contracts
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Terms Used In Tennessee Code 65-14-106
- Contract: A legal written agreement that becomes binding when signed.
- 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 company or companies may severally or jointly, or jointly and severally, guarantee the principal and interest of such bonds as may be issued by the railroad terminal corporation, and may in like manner guarantee the performance of any other contract that the railroad terminal corporation may make in regard to its corporate business.