New Jersey § 48:3-7
Full text of New Jersey New Jersey Statutes § 48:3-7, with citation guidance and answers to common questions.
§ 48:3-7.
No management, advisory service, construction or engineering contract that in itself
or in connection with another contract relating to the same work, project, transaction
or service involves the expenditure of a sum exceeding twenty-five thousand dollars,
made by any public utility with any person or corporation owning, holding or controlling
separately, or in affiliation with another person or corporation, five per cent or
more of the capital stock of such public utility or with any corporation five per
cent of the capital stock of which is owned, held or controlled by a person or corporation
owning, holding or controlling separately, or in affiliation with another person or
corporation, five per cent of the capital stock of such public utility shall be valid
or effective until approved in writing by the board. The board shall disapprove such contract if it determines that such contract violates
the laws of this state or of the United States, or that the price or compensation
thereby fixed exceeds the fair price or fair compensation for the property to be furnished
or the work to be done or the services to be rendered thereunder or is contrary to
the public interest: otherwise the board shall approve such contract. No order shall be made by the board disapproving such a contract except after hearing
upon notice.
Frequently Asked Questions About New Jersey § 48:3-7
What does New Jersey Statutes § 48:3-7 cover?
Section 48:3-7 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 48:3-7?
A common citation format is "New Jersey Statutes § 48:3-7" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 48:3-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.