New Jersey § acts:saved-48 - (4)

§ acts:saved-48. (4)

4. This act shall not apply to any corporation unless such corporation shall first,

and as a condition precedent to the exercise of any power granted by this act or any

other act of the legislature of this state, file in the office of the secretary of

state an agreement, to be approved by the governor and the attorney general, waiving

all rights of exemption from taxation and from privileges and advantages arising from

any law or contract (if any there be) establishing any special mode of taxation of

any such corporation, and waiving all rights of removing actions, suits and other

proceedings from the courts of this state to the courts of the United States on the

ground of citizenship, and the further agreement to be bound by any general law of

this state now in existence, or that may hereafter be passed, taxing such corporations

as are now authorized to be taxed by the legislature of this state under any general

law; and further agreeing that the exercise of any power granted by this act shall

not in any way affect the rights of the state (if any there exist) to take the property

of such corporation under any existing law of the state, and agreeing further, that

all laws affecting such corporations shall be subject to alteration or repeal by the

legislature.