New Jersey § 48:12-18
Full text of New Jersey New Jersey Statutes § 48:12-18, with citation guidance and answers to common questions.
§ 48:12-18.
Every railroad company may borrow such sums of money from time to time as shall be
necessary to construct, improve, extend and repair its road and furnish all necessary
lands, chattels, engines, cars and equipments. To secure repayment thereof it may issue bonds secured by mortgage on any of its
railroad, lands, chattels, franchises and appurtenances. Such company shall not plead any statute against usury in any action at law or in
equity to enforce the payment of any bond or mortgage executed pursuant to this section. If the amount of the mortgage debt of any railroad company of this state is limited
by special law, the written consent of the holders of at least two-thirds in value
of all of its stock shall be obtained before any such mortgage shall be executed. Any person issuing bonds of a railroad company in an amount greater than that authorized
by law shall be guilty of a misdemeanor. Where a mortgage on a railroad right of way and franchises includes chattels, it shall
be sufficient evidence and notice thereof to record the same as a mortgage on real
estate.
Frequently Asked Questions About New Jersey § 48:12-18
What does New Jersey Statutes § 48:12-18 cover?
Section 48:12-18 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 § 48:12-18?
A common citation format is "New Jersey Statutes § 48:12-18" (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 § 48:12-18 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.