Terms Used In Vermont Statutes Title 5 Sec. 3424

  • 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.
  • 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.

§ 3424. Application of provisions of title

The provisions of this title that impose upon a railroad corporation any duty, obligation, or liability shall apply to persons having the possession, control, or management of a railroad, or of the engines and cars running thereon, as lessees, assignees, trustees, or in any other capacity.