New Jersey § 48:3-26 Number of directors of new company

New Jersey Statutes

§ 48:3-26 — Number of directors of new company

New Jersey § 48:3-26

Title 48PUBLIC UTILITIES

This text of New Jersey § 48:3-26 (Number of directors of new company) 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. § 48:3-26 (2026).

Text

The stockholders of any railroad, canal or turnpike company which has been or may be formed after mortgage sales of the railroad, canal or turnpike, at the annual or other election of directors, may elect any number of directors (not less than seven nor more than seventeen), one of whom shall be president, provided that the board of directors of the company shall first have voted and fixed the number of directors to be voted for, unless it shall be at the first meeting of the persons for or on whose account the railroad, canal or turnpike may have been purchased, in which case the number of directors may be fixed as aforesaid by the persons organizing the new company under the laws of this state.

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The stockholders of any railroad, canal or turnpike company which has been or may be formed after mortgage sales of the railroad, canal or turnpike, at the annual or other election of directors, may elect any number of directors (not less than seven nor more than seventeen), one of whom shall be president, provided that the board of directors of the company shall first have voted and fixed the number of directors to be voted for, unless it shall be at the first meeting of the persons for or on whose account the railroad, canal or turnpike may have been purchased, in which case the number of directors may be fixed as aforesaid by the persons organizing the new company under the laws of this state.