Terms Used In Indiana Code 8-3-1.5-11

• 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.
• Department: refers to the Indiana department of transportation established under IC 8-23-2-1. See Indiana Code 8-3-1.5-1
• Rail properties: means assets or rights, owned, leased, or otherwise controlled by a railroad or other persons which are used, or useful, in rail transportation service; however, the term rail properties does not include any properties owned, leased or otherwise controlled by a railroad not in reorganization unless it consents to such property's inclusion in the particular transaction. See Indiana Code 8-3-1.5-1