New Jersey § 48:2-18
Full text of New Jersey New Jersey Statutes § 48:2-18, with citation guidance and answers to common questions.
§ 48:2-18.
The board may, after hearing, upon notice, by order in writing, require every public
utility to carry, whenever in the judgment of the board it may reasonably be required
for the protection of stockholders, bondholders or creditors, a proper and adequate
depreciation account in accordance with such rules, regulations and forms of account
as the board may prescribe. The board shall from time to time ascertain and determine, and by order in writing
after hearing, fix proper and adequate rates of depreciation of the property of each
public utility in accordance with such regulations or classifications. Such rates shall be sufficient to provide the amounts required, over and above the
expense of maintenance, to keep the property in a state of efficiency corresponding
to the progress of the industry. Each public utility shall conform its depreciation accounts to the rate so ascertained. Amounts so provided shall not be expended otherwise than for depreciation, improvements,
new construction, replacements, extensions or additions to the property of the public
utility or for the retirement of debt incurred in connection therewith.
Frequently Asked Questions About New Jersey § 48:2-18
What does New Jersey Statutes § 48:2-18 cover?
Section 48:2-18 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 § 48:2-18?
A common citation format is "New Jersey Statutes § 48:2-18" (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 § 48:2-18 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.