§ 1 Short title
§ 2 Classification of transportation corporations
§ 3 Incorporation
§ 4 Applicability of business corporation law to transportation corporations
§ 5 Application
§ 6 Merger of subsidiary corporations
§ 7 Agreement for fiber optic utility use and occupancy of state right of way

Terms Used In New York Laws > Transportation Corporations > Article 1 - Short Title; Classification; Incorporation; Application

  • 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.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Statute: A law passed by a legislature.