N.J.S.A. 48:19-11 — Increase of capital; approval of public utility commission

48:19-11. Increase of capital; approval of public utility commission Each water company in this State may increase its capital stock by and with the consent of 2/3 of the stockholders of the company and upon filing certificate of such action in the office of the Secretary of State. Nothing in this section contained shall be construed as authorizing any water company to issue any capital stock pursuant to this section until such company shall have first obtained authority so to do from the Board of Public Utility Commissioners in the manner provided by section 48:3-9 of this Title. Amended by L.1962, c. 198, s. 190.

This is the verbatim text of N.J.S.A. 48:19-11, 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.