Rutgers Law

New Jersey Statutes, Title: 48, PUBLIC UTILITIES

    Chapter 12: Application of chapter

      Section: 48:12-16: Change of name; extension of corporate existence; change in amount and classes of stock

           Every railroad company may, by certificate and proceeding in the manner prescribed by sections 14:11-1 to 14:11-5 of the title Corporations, General:

a. Change its name;

b. Decrease or increase its capital stock;

c. Create one or more classes of preferred stock or prior preference or other special stock;

d. Extend its corporate existence;

e. Change the par value of any class or all classes of the shares of its capital stock with par value;

f. Change the number of its outstanding shares of any class of stock into a different number of shares of said class;

g. Change its preferred or special stock into one or more classes of preferred or special or common stock, or any or all of them;

h. Change its common stock into one or more classes of preferred or special or other common stock, or any or all of them;

i. Change stock with par value (of any class or classes) into stock without par value of the same or of a different class or classes;

j. Change stock without par value into stock with par value of the same or of a different class or classes, either with or without increasing or decreasing the number of shares;

k. Provide for funding or satisfying rights in respect to dividends in arrears by the issuance of stock therefor or otherwise;

l. Provide for the creation and issuance of optional rights to subscribe to stock;

m. Make other provision for the readjustment or reclassification of all or part of its capital stock; or

n. Alter or amend existing provisions for the regulation of the management and affairs of the corporation.



This section added to the Rutgers Database: 2012-09-26 13:37:55.

Older versions of 48:12-16 (if available):

Court decisions that cite this statute: CLICK HERE.