Massachusetts General Laws ch. 160 sec. 217 – Rights and liabilities under new name
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Section 217. A railroad corporation shall have the same rights, powers and privileges, and be subject to the same duties, obligations and liabilities, under its new name as before its name was changed, and may sue and be sued by its new name; but any action brought against it by its former name shall not be defeated on that account, and, on motion of either party, the new name may be substituted therefor.
Terms Used In Massachusetts General Laws ch. 160 sec. 217
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.