New Jersey § 48:12-140
Full text of New Jersey New Jersey Statutes § 48:12-140, with citation guidance and answers to common questions.
§ 48:12-140.
When a new railroad company is organized to purchase and operate the railroad and
franchises of any railroad company of this state sold on foreclosure or insolvency
proceedings, and has acquired title to such railroad and franchises pursuant to a
plan for readjustment of the interest therein of mortgage creditors, other creditors
and stockholders and for the representation of such interest in the bonds, debts or
stocks of the new company, the new company may issue its bonds and stock in conformity
with such plan and may within six months after its organization, compromise, settle
or assume the payment of any debt or liability of the former company on such terms
as may be approved by a majority of the agents or trustees intrusted with the carrying
out of the plan of reorganization.
Frequently Asked Questions About New Jersey § 48:12-140
What does New Jersey Statutes § 48:12-140 cover?
Section 48:12-140 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 § 48:12-140?
A common citation format is "New Jersey Statutes § 48:12-140" (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 § 48:12-140 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.