New Jersey § 48:12-14

§ 48:12-14.

Every railroad company, in addition to the powers conferred by its charter or by any

act or certificate under which it is or shall be incorporated, and notwithstanding

any limitation expressly or impliedly imposed by any general or special law or by

any act or certificate under which it is incorporated, may: a. Purchase, hold, sell, assign, transfer, mortgage, pledge or otherwise dispose of

any shares of the capital stock of, or any bonds, securities or evidences of indebtedness

created by any other corporation or corporations of this or any other state, and while

the owner of such stock, exercise all the rights, powers and privileges of ownership,

including the right to vote thereon; b. Acquire, purchase, lease and hold any of the property, franchises, privileges or

rights of any other corporation or corporations of this or any other state, and while

the owner or lessee thereof, exercise all the rights, powers and privileges of ownership,

including the right to operate any line of railroad or other means of transportation. The exercise of any such franchises, privileges or rights, including the operation

of any line of railroad or other means of transportation acquired, purchased, leased

or held under the provisions of this section, shall be subject to all of the provisions

of this title; c. Sell or otherwise dispose of any of its property, franchises, privileges or rights

or any part thereof. Nothing herein contained shall authorize any railroad company to exercise any of the

powers conferred upon it by this section, without the approval of the board of public

utility commissioners where such approval is required by law.