Texas Transportation Code 131.903 – Buildings and Other Facilities: Certain Railways
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Terms Used In Texas Transportation Code 131.903
- 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.
A corporation organized before September 1, 1925, under any law of this state, that operates a line of electric, gas or gasoline, denatured alcohol, or naphtha motor railway in and between municipalities in this state, may:
(1) own and operate union depots and office buildings; and
(2) acquire, hold, and operate electric light and power plants in and adjacent to a municipality in or through which the railway operates.