N.J.S.A. 48:12-2 — Exclusive franchises; railroads subject to general laws

48:12-2. Exclusive franchises; railroads subject to general laws No franchise granted prior to July 4, 1903, to construct a railroad or build or establish bridges or ferries or operate any line of travel and take tolls or fares therefor shall after that date remain exclusive and no like franchise granted after that date shall be exclusive unless in such grant heretofore or hereafter made it be so expressly provided. All railroad corporations organized under this Title shall be subject to all general laws now or hereafter passed to regulate railroads and their operation. Amended by L.1962, c. 198, s. 105.

This is the verbatim text of N.J.S.A. 48:12-2, 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.