New Jersey § 48:12-93 Stocks and bonds;  mortgages;  approval

New Jersey Statutes

§ 48:12-93 — Stocks and bonds; mortgages; approval

New Jersey § 48:12-93

Title 48PUBLIC UTILITIES

This text of New Jersey § 48:12-93 (Stocks and bonds; mortgages; approval) 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. § 48:12-93 (2026).

Text

Any company owning or constructing a subsurface railroad and station or stations pursuant to section 48:12-91 of this title may provide the money to defray the cost thereof and approaches thereto by the issue and sale of its stocks or bonds or both, and may secure payment of any such bonds by mortgage or deed of trust. Any proposed issue of such stocks and bonds shall be first approved by the board of public utility commissioners.

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Any company owning or constructing a subsurface railroad and station or stations pursuant to section 48:12-91 of this title may provide the money to defray the cost thereof and approaches thereto by the issue and sale of its stocks or bonds or both, and may secure payment of any such bonds by mortgage or deed of trust. Any proposed issue of such stocks and bonds shall be first approved by the board of public utility commissioners.