New Jersey § 48:3-5
Full text of New Jersey New Jersey Statutes § 48:3-5, with citation guidance and answers to common questions.
§ 48:3-5.
No public utility shall: a. Capitalize any franchise to be a corporation; b. Capitalize any franchise in excess of the amount, exclusive of any tax or annual
charge, actually paid to the state or any political subdivision thereof as the consideration
of the franchise; c. Capitalize any contract for consolidation, merger or lease; or d. Issue any bonds or other evidence of indebtedness against or as a lien upon any
contract for consolidation, merger or lease. Nothing herein shall prevent the issuance of stock, bonds or other evidence of indebtedness,
subject to the approval of the board, by any lawfully merged or consolidated public
utilities not in contravention of this section.
Frequently Asked Questions About New Jersey § 48:3-5
What does New Jersey Statutes § 48:3-5 cover?
Section 48:3-5 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 § 48:3-5?
A common citation format is "New Jersey Statutes § 48:3-5" (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 § 48:3-5 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.