N.J.S.A. 48:12-16 — Change of name; extension of corporate existence; change in amount and classes of stock

48:12-16. Change of name; extension of corporate existence; change in amount and classes of stock Every railroad company may, by certificate and proceeding in the manner prescribed by sections 14:11-1 to 14:11-5 of the title Corporations, General: a. Change its name; b. Decrease or increase its capital stock; c. Create one or more classes of preferred stock or prior preference or other special stock; d. Extend its corporate existence; e. Change the par value of any class or all classes of the shares of its capital stock with par value; f. Change the number of its outstanding shares of any class of stock into a different number of shares of said class; g. Change its preferred or special stock into one or more classes of preferred or special or common stock, or any or all of them; h. Change its common stock into one or more classes of preferred or special or other common stock, or any or all of them; i. Change stock with par value (of any class or classes) into stock without par value of the same or of a different class or classes; j. Change stock without par value into stock with par value of the same or of a different class or classes, either with or without increasing or decreasing the number of shares; k. Provide for funding or satisfying rights in respect to dividends in arrears by the issuance of stock therefor or otherwise; l. Provide for the creation and issuance of optional rights to subscribe to stock; m. Make other provision for the readjustment or reclassification of all or part of its capital stock; or n. Alter or amend existing provisions for the regulation of the management and affairs of the corporation.

This is the verbatim text of N.J.S.A. 48:12-16, 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.