N.J.S.A. 48:15-13

Borrowing money; limitation

48:15-13. Borrowing money; limitation Any street railway or traction company may borrow from time to time such sums of money as may be necessary for the accomplishment of the objects of the company, not exceeding at any one time the amount of its capital stock issued, outstanding and fully paid for. Amended by L.1946, c. 287, p. 981, s. 2, eff. May 3, 1946.

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This is the verbatim text of N.J.S.A. 48:15-13, 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.