New Jersey § 48:2-29.2 Prohibit or limit payment of dividends by utility failing to comply with board's order

New Jersey Statutes

§ 48:2-29.2 — Prohibit or limit payment of dividends by utility failing to comply with board's order

New Jersey § 48:2-29.2

Title 48PUBLIC UTILITIES

This text of New Jersey § 48:2-29.2 (Prohibit or limit payment of dividends by utility failing to comply with board's order) 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. § 48:2-29.2 (2026).

Text

The board may, after hearing, upon notice, by order in writing, prohibit or limit the payment of dividends by a public utility if the board, after such hearing, finds and determines that such public utility fails to comply with any order of the board ascertaining, determining and fixing reasonably adequate working capital or rates of depreciation or with any order requiring such public utility by adequate maintenance to keep its property and equipment in condition to furnish safe, adequate, and proper service. Every order so made by the board shall continue in effect until the board by its order in writing determines that the conditions on the existence of which the making of the order was based have been corrected. Amended by L.1962, c. 198, s. 17.

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The board may, after hearing, upon notice, by order in writing, prohibit or limit the payment of dividends by a public utility if the board, after such hearing, finds and determines that such public utility fails to comply with any order of the board ascertaining, determining and fixing reasonably adequate working capital or rates of depreciation or with any order requiring such public utility by adequate maintenance to keep its property and equipment in condition to furnish safe, adequate, and proper service. Every order so made by the board shall continue in effect until the board by its order in writing determines that the conditions on the existence of which the making of the order was based have been corrected. Amended by L.1962, c. 198, s. 17.