Lease of railroad by trustee or receiver; conditions
48:12-148. Lease of railroad by trustee or receiver; conditions
No lease of a railroad shall be made by a trustee or receiver appointed by the Superior Court except upon a rental and adequate security for the payment of the same, both to be first approved by the Superior Court and a majority of the stockholders of the railroad in interest, upon such public notice to the parties in interest as the Superior Court shall direct.
Amended by L.1962, c. 198, s. 155.
This is the verbatim text of N.J.S.A. 48:12-148, 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. KyzerLex is not a law firm and this page is not legal advice.