48:12-17. Voting by bondholders
138 words·~1 min read·
/nj/title-48/chapter-12/48-12-17A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The stockholders of any railroad company may, by agreement expressed in the certificate of incorporation, or in a supplementary certificate executed and acknowledged by every stockholder and filed in like manner as the original certificate, authorize and empower the holders of bonds of the company secured by mortgage on its property and franchises, to vote at meetings of stockholders, in person or by proxy, either for the election of directors or for other purposes.
Each bondholder shall cast as many votes as shall be fixed by the certificate of incorporation or by any supplemental certificate executed, acknowledged and filed as above provided, and the production of his bonds shall be evidence of his right to vote. Every bondholder so voting shall be subject, to the extent of the amount of his bonds, to the same liabilities as stockholders.