New Jersey § 48:5-16
Full text of New Jersey New Jersey Statutes § 48:5-16, with citation guidance and answers to common questions.
§ 48:5-16.
The certificate of incorporation shall not be filed in the office of the secretary
of state until there shall have been annexed thereto and filed therewith an affidavit,
made by at least three of the directors in the certificate named, that at least one
hundred thousand dollars has been, in good faith, subscribed and paid into the treasury
of the company for stock for each terminal to be constructed by the company within
this state, and that it is intended in good faith to construct, maintain and operate
the bridges mentioned in the certificate. Nor shall the certificate be filed in such office until at least twenty-five thousand
dollars has been in good faith subscribed and paid in cash to the directors for each
terminal to be constructed in this state, and deposited by them with the treasurer
of the state. The treasurer of the state shall hold the sum so deposited subject to be repaid to
the company or its treasurer upon the construction of what it shall be proved to his
satisfaction that the company has expended at least twenty-five thousand dollars to
construct, or to be repaid to the directors of the company upon satisfactory proof
of the payment of all debts of the company and the dissolution thereof.
Frequently Asked Questions About New Jersey § 48:5-16
What does New Jersey Statutes § 48:5-16 cover?
Section 48:5-16 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 § 48:5-16?
A common citation format is "New Jersey Statutes § 48:5-16" (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 § 48:5-16 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.