Texas Transportation Code 131.035 – Limitation On Acquisition
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Transportation Code 131.035
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: means real and personal property. See Texas Government Code 311.005
A corporation described by this subchapter may not:
(1) acquire, own, control, or operate a parallel or competing interurban line; or
(2) purchase, lease, acquire, own, or control, directly or indirectly, the shares or certificates of stock or bonds, a franchise or other right, or the physical property or any part of the property, of any corporation in violation of the law commonly known as the antitrust law.