48:12-137. State treasurer to repay deposit in certain cases

144 words·~1 min read·/nj/title-48/chapter-12/48-12-137

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

When any railroad company organized under the laws of this State shall, by agreement of lease, merger or consolidation, become possessed of a line of railroad between the termini named in its certificate of incorporation and cars are actually being operated thereon, and shall file a certificate of that fact with the State Treasurer over its corporate seal, signed by its president and attested by its secretary and verified by the affidavit of its treasurer, the State Treasurer shall repay to such company the sum of money deposited with the State Treasurer as required by section 48:12-8 of this Title or so much thereof as shall not have been already repaid.

In case the company has become merged or consolidated, the sum shall be paid to the new or acquiring company formed by the consolidation or merger.

Amended by L.1962, c. 198, s. 147.