31:1-5. Canal and railroad securities sold under par
69 words·~1 min read·
/nj/title-31/chapter-1/31-1-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.