New Jersey § 48:12-134 Borrowing money;  bonds secured by mortgage

New Jersey Statutes

§ 48:12-134 — Borrowing money; bonds secured by mortgage

New Jersey § 48:12-134

Title 48PUBLIC UTILITIES

This text of New Jersey § 48:12-134 (Borrowing money; bonds secured by mortgage) 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. § 48:12-134 (2026).

Text

In all cases of merger or consolidation under this article, the consolidated or acquiring company may borrow an amount of money, sufficient to cover all the indebtedness of the companies united by such consolidation or merger and complete, extend, repair, improve and equip its railroad and furnish all necessary lands, personal property, engines, cars and equipment, and may issue bonds for the money borrowed secured by mortgage on its corporate property and franchises or any part thereof. Amended by L.1948, c. 317, p. 1271, s. 9; L.1962, c. 198, s. 146.

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In all cases of merger or consolidation under this article, the consolidated or acquiring company may borrow an amount of money, sufficient to cover all the indebtedness of the companies united by such consolidation or merger and complete, extend, repair, improve and equip its railroad and furnish all necessary lands, personal property, engines, cars and equipment, and may issue bonds for the money borrowed secured by mortgage on its corporate property and franchises or any part thereof. Amended by L.1948, c. 317, p. 1271, s. 9; L.1962, c. 198, s. 146.