2018 New Jersey Revised Statutes
Chapter 1 - Contract rate; rate on mortgages on dwellings and other loans; computation of interest or discount; determination of rates
Section 31:1-5 - Canal and railroad securities sold under par

Universal Citation: NJ Rev Stat § 31:1-5 (2018)

Section: 31:1-5: Canal and railroad securities sold under par

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.

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