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New Jersey Statutes, Title: 31, INTEREST AND USURY

    Chapter 1: Contract rate; rate on mortgages on dwellings and other loans; computation of interest or discount; determination of rates

      Section: 31:1-5: Canal and railroad securities sold under par

           No bond, mortgage or other security for the payment of money, valid on its face, heretofore or hereafter made or issued by any railroad or canal corporation created by or under the laws of this state, shall be held, deemed or considered invalid because such bond, mortgage or other security may have been made, issued, sold, assigned or otherwise disposed of by such corporation below the par value thereof.



This section added to the Rutgers Database: 2012-09-26 13:37:50.






Older versions of 31:1-5 (if available):



Court decisions that cite this statute: CLICK HERE.