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2017 New Jersey Revised Statutes
TITLE 48 - PUBLIC UTILITIES
Section 48:9-19 - Increasing bonded indebtedness
Universal Citation: NJ Rev Stat § 48:9-19 (2017)
48:9-19. Increasing bonded indebtedness
Any gas company incorporated under the laws of this state, which by the terms of its charter is restricted as to the amount of its bonded indebtedness to an amount less than two-thirds of the amount of its capital stock, may by a majority vote of its board of directors, and with the consent of a majority of the stockholders representing at least sixty per cent of the capital stock, increase its bonded indebtedness to an amount not exceeding two-thirds of the amount of its capital stock.
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