New Jersey § 48:12-127 Filing agreement of waiver;  approval of board of public utility  commissioners

New Jersey Statutes

§ 48:12-127 — Filing agreement of waiver; approval of board of public utility commissioners

New Jersey § 48:12-127

Title 48PUBLIC UTILITIES

This text of New Jersey § 48:12-127 (Filing agreement of waiver; approval of board of public utility commissioners) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 48:12-127 (2026).

Text

No such lease, union, consolidation or merger shall take effect until the parties thereto file in the office of the Secretary of State an agreement surrendering to the State all rights of exemption or contract privileges with respect to taxation in this State and reserving to the State any existing right to take the property of any of the parties nor shall the same be valid unless approved by the Interstate Commerce Commission in any case as to which that commission has jurisdiction, and in any other case by the board of public utility commissioners. The property and franchises in this State of the lessor and lessee and of such consolidated or acquiring company shall be subject to taxation under the general laws of this State. Amended by L.1948, c. 317, p. 1266, s. 2.

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No such lease, union, consolidation or merger shall take effect until the parties thereto file in the office of the Secretary of State an agreement surrendering to the State all rights of exemption or contract privileges with respect to taxation in this State and reserving to the State any existing right to take the property of any of the parties nor shall the same be valid unless approved by the Interstate Commerce Commission in any case as to which that commission has jurisdiction, and in any other case by the board of public utility commissioners. The property and franchises in this State of the lessor and lessee and of such consolidated or acquiring company shall be subject to taxation under the general laws of this State. Amended by L.1948, c. 317, p. 1266, s. 2.