LegalFix
Sign In

Section 48:9-19 - Increasing bonded indebtedness

NJ Rev Stat § 48:9-19 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

48:9-19. Increasing bonded indebtedness

Any gas company incorporated under the laws of this state, which by the terms of its charter is restricted as to the amount of its bonded indebtedness to an amount less than two-thirds of the amount of its capital stock, may by a majority vote of its board of directors, and with the consent of a majority of the stockholders representing at least sixty per cent of the capital stock, increase its bonded indebtedness to an amount not exceeding two-thirds of the amount of its capital stock.

Previous Section
Section 48:9-18 - Companies may mortgage property and franchises
Next Section
Section 48:9-21 - Manner of laying pipes