New Jersey § 14:2-2

§ 14:2-2.

There may be incorporated under this Title corporations for the purpose of (1) Constructing, maintaining and operating railroads or street railways, or (2) Constructing, maintaining and operating works, systems, conduits, conductors,

lines, equipment, and facilities for the carrying on of one or more of the activities

separately described in any one of subsections a through g following: a. Generation, transmission and distribution of electric current for heat, light and

power, or b. Manufacturing, processing, transmission, distribution and supply of gas for heat,

light and power, and other purposes, or c. Furnishing means of disposal of sewage, or d. Production, transmission, distribution and supplying of steam heat and power or

steam power, or e. Generation, transmission and distribution of water power or of electrical power

generated by water power, or f. Supplying of telegraph or telephone service or telegraph and telephone service,

or g. Transmission, distribution and supplying of water, and (3) Furnishing such service or the sale of such product for profit to the public within

or outside of this State. Each corporation heretofore incorporated and organized under any of the provisions

of Title 48 of the Revised Statutes, or of any other statutes therein revised, shall

hereafter be governed by the provisions of Title 14 of the Revised Statutes to the

same extent that it would have been governed thereby if it had been incorporated thereunder

and it shall be subject to the restrictions and conditions in said title contained

but shall have, in addition to the powers and privileges conferred by said Title 14

of the Revised Statutes, a. All the powers conferred upon it by the provisions of the statute under which it

was incorporated and organized, and b. The power to issue its capital stock without nominal or par value and to change

its existing capital stock to stock without nominal or par value as may be provided

for in its charter or certificate of incorporation or any amendment thereof in the

manner prescribed by the statute hereby supplemented subject, however, to such control

by the Public Utility Commission as is provided by law.