New Jersey § 13:12-6

§ 13:12-6.

The title to the shares of capital stock of the canal and banking company acquired

or to be acquired by the State of New Jersey, under and by virtue of the agreement

entered into under the authority of the act entitled “An act to authorize the acquisition

by the State of the Morris canal (as defined in this act), in whole or in part, and

all the stock of the Morris Canal and Banking Company and the rights of all stockholders

in said company in said canal property and water rights, and all or any part of the

right, title and interest of the Lehigh Valley Railroad Company in said canal property

and water rights by virtue of its lease of said canal from the Morris Canal and Banking

Company, or otherwise; to provide for a commission authorized to negotiate and agree

upon terms of settlement with the Morris Canal and Banking Company and the Lehigh

Valley Railroad Company, in relation to the said canal property and water rights,

and to vest in said commission certain powers necessary for carrying out the terms

of settlement and to make such other provisions as may be necessary to effectuate

the objects aforesaid,” approved March eleven, one thousand nine hundred and twenty-two

(L.1922, c. 212, p. 367), and the title to the shares of capital stock of the canal

and banking company, acquired or to be acquired by the State of New Jersey pursuant

to the provisions of the act entitled “An act concerning and regulating the acquisition

and taking of shares of the capital stock of the Morris Canal and Banking Company

by the State of New Jersey, or any agent thereof, providing a procedure and the manner

of making compensation therefor,” approved March nineteen, one thousand nine hundred

and twenty-three (L.1923, c. 112, p. 210), and the act entitled “A supplement to an

act entitled ‘An act concerning and regulating the acquisition and taking of shares

of the capital stock of the Morris Canal and Banking Company by the State of New Jersey,

or any agent thereof, providing a procedure and the manner of making compensation

therefor,’ approved March nineteen, one thousand nine hundred and twenty-three,” approved

March eight, one thousand nine hundred and twenty-four (L.1924, c. 80, p. 156), and

vested in the Board of Conservation and Development in trust for the State of New

Jersey by section one of the act entitled “An act vesting in the Board of Conservation

and Development in trust for the State of New Jersey, the title to the shares of capital

stock of the Morris Canal and Banking Company now held or that may hereafter be acquired

by the State of New Jersey and providing that the members of said board shall be eligible

to serve as directors of said company,” approved March nineteen, one thousand nine

hundred and twenty-three (L.1923, c. 110, sec. 1, p. 208), is hereby transferred to

and vested in the Department of Conservation and Economic Development in trust for

the State of New Jersey.