48:12-23. Foreign railroads in this state; rights and liabilities

164 words·~1 min read·/nj/title-48/chapter-12/48-12-23

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

Any railroad company created by the laws of any other state and authorized by the laws of this state to hold property and exercise franchises in this state may hold meetings of the directors in this state who may exercise all the powers and franchises of the company in this state so far as necessary to transact the business of the company and may have an office in this state for the transfer of stock. The officers and agents of the company may transact its business in this state.

Any such company shall be deemed a corporation of this state for the purpose of being sued or proceeded against if insolvent in the same manner and to the same extent as if organized originally in this state and no attachment at law shall be brought against such company.

Any such company may be governed by such rules and regulations as shall be adopted under its organization not repugnant to the laws of this state.