New Jersey § 48:12-146 Operation of insolvent railroad by receiver;  expenses

New Jersey Statutes

§ 48:12-146 — Operation of insolvent railroad by receiver; expenses

New Jersey § 48:12-146

Title 48PUBLIC UTILITIES

This text of New Jersey § 48:12-146 (Operation of insolvent railroad by receiver; expenses) 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. § 48:12-146 (2026).

Text

When a railroad company in this State shall become insolvent and its property shall have passed into the hands of a receiver by order of the Superior Court, the receiver shall operate the railroad for the use of the public, subject at all times to the order of the Superior Court. All expenses incident to the operation of the railroad shall be a first lien on the receipts, to be paid before any other encumbrances whatever. Amended by L.1962, c. 198, s. 153.

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When a railroad company in this State shall become insolvent and its property shall have passed into the hands of a receiver by order of the Superior Court, the receiver shall operate the railroad for the use of the public, subject at all times to the order of the Superior Court. All expenses incident to the operation of the railroad shall be a first lien on the receipts, to be paid before any other encumbrances whatever. Amended by L.1962, c. 198, s. 153.