N.J.S.A. 31:1-5

Canal and railroad securities sold under par

31:1-5. Canal and railroad securities sold under par No bond, mortgage or other security for the payment of money, valid on its face, heretofore or hereafter made or issued by any railroad or canal corporation created by or under the laws of this state, shall be held, deemed or considered invalid because such bond, mortgage or other security may have been made, issued, sold, assigned or otherwise disposed of by such corporation below the par value thereof.

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This is the verbatim text of N.J.S.A. 31:1-5, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.

N.J.S.A. 31:1-5 — Canal and railroad securities sold under par | Kyzer