reglab/housing_qa huggingface dataset:
NJ Rev Stat § 48:12-131 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-131 - Effect of consolidation or merger; rights, duties and liabilities of new or acquiring company; acquisition of land

48:12-131. Effect of consolidation or merger; rights, duties and liabilities of new or acquiring company; acquisition of land  The several parties to any such agreement of consolidation or merger shall, from the time of the recording thereof in the office of the Secretary of State, be taken to be one railroad company by the name adopted in case of a consolidation or by the name of the acquiring company in case of a merger, possessing within this State all the rights and franchises and subject to all the restrictions, disabilities and duties of the companies of this State, or owning or operating any railroad in this State, so consolidated or merged and in case of a consolidation, if any of the constituent companies so consolidated was a corporation of this State, the new company formed by such consolidation shall be a corporation of this State or of this State and some other State or States. All the rights, privileges and franchises of each of the companies parties to any such agreement of consolidation or merger and all rights-of-way, real estate and personal property, and all debts, stock subscriptions and other things in action of the companies consolidated or merged shall be taken to be transferred to the new or acquiring company without further act or deed and to be vested in the new or acquiring company as effectually as they were in the former companies. The new or acquiring company may take land by purchase or condemnation in the same manner and to the same extent as companies organized under the laws of this State. All rights of creditors and all liens upon property shall be preserved unimpaired and all debts, liabilities and duties of any of the former companies shall thenceforth attach to the new or acquiring company and be enforced against it to the same extent as if incurred by it. Amended by L.1948, c. 317, p. 1268, s. 6; L.1962, c. 198, s. 144.
NJ Rev Stat § 48:12-132 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-132 - Stockholders dissenting from consolidation, merger or lease; procedure

48:12-132. Stockholders dissenting from consolidation, merger or lease; procedure  Any stockholder of any company of this State who shall refuse to convert his stock into the stock or securities of the consolidated or acquiring company or who shall dissent from any merger or lease of the property and franchises of his company to another company, may at any time within 30 day after the adoption of the agreement by the stockholders of his company apply by complaint on reasonable notice to the company, or to the consolidated or acquiring company if the consolidation or merger shall have become effective, to the Superior Court who shall appoint 3 disinterested citizens of this State to estimate the damage if any done to the stockholder by such consolidation, merger or lease. Such appraisers shall also separately appraise the shares of the stockholders at the full market value thereof without regard to any depreciation or appreciation thereof in consequence of the consolidation, merger or lease. Their award when filed with the clerk of the Superior Court and confirmed by the Superior Court shall be final and conclusive. The company, or the consolidated or acquiring company if the consolidation or merger shall have become effective, may, at its election, pay to the stockholder the amount of damages so found, if any, or the value of the stock so appraised and determined. Upon the payment of the value of his stock it shall be transferred and belong to the company, or to the consolidated or acquiring company if the consolidation or merger shall have become effective, as the case may be, to be disposed of by the directors or retained. In case the value of the stock shall not be paid within 30 days after the confirmation of the award and notice to the company, or to the consolidated or acquiring company if the consolidation or merger shall have become effective, the damages so found and confirmed shall have the force and effect of a judgment of the Superior Court for such damages against the company or, in the case of the consolidation or merger which shall have become effective, against the consolidated or acquiring company. Amended by L.1948, c. 317, p. 1269, s. 7; L.1962, c. 198, s. 145.
NJ Rev Stat § 48:12-133 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-133 - Issuance of stock and exchange or sale of stock and bonds by consolidated company

48:12-133. Issuance of stock and exchange or sale of stock and bonds by consolidated company  Any railroad company of this State, formed by consolidation of two or more railroad companies under this article or the acquiring and surviving company in the case of a merger, may issue shares of capital stock at par of an amount equal to the aggregate par value of all the stock of the companies parties to such consolidation or merger and twenty per centum (20%) in addition thereto and may issue preferred stock to an amount not exceeding one-half of its authorized capital. Such company may exchange its stocks and bonds for the bonds, mortgages, debts and stock of the companies consolidated, on terms agreed upon with the holders thereof and approved as a part of the agreement or it may sell its stock and bonds and use the proceeds to carry out the agreement of consolidation or merger and extend, repair, improve and equip its railroads and furnish all necessary lands, chattels, engines, cars and equipment. Nothing in this section shall be construed to reduce or restrict the amount of capital stock authorized to be issued by any company under its charter. Amended by L.1948, c. 317, p. 1271, s. 8.
NJ Rev Stat § 48:12-134 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-134 - Borrowing money; bonds secured by mortgage

48:12-134. Borrowing money; bonds secured by mortgage  In all cases of merger or consolidation under this article, the consolidated or acquiring company may borrow an amount of money, sufficient to cover all the indebtedness of the companies united by such consolidation or merger and complete, extend, repair, improve and equip its railroad and furnish all necessary lands, personal property, engines, cars and equipment, and may issue bonds for the money borrowed secured by mortgage on its corporate property and franchises or any part thereof. Amended by L.1948, c. 317, p. 1271, s. 9; L.1962, c. 198, s. 146.
NJ Rev Stat § 48:12-135 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-135 - Lessor company may borrow money and issue bonds secured by mortgage

48:12-135. Lessor company may borrow money and issue bonds secured by mortgage  Any railroad company authorized to lease its railroad may, in addition to its then existing power to borrow money and issue bonds secured by mortgage, borrow money and issue bonds payable not more than one hundred years from the date thereof to an amount sufficient to cover all its indebtedness and for other purposes mentioned in section 48:12-134 of this Title. The company may secure such bonds by mortgage on its property and franchises. The bonds may be given in exchange for or in satisfaction of bonds or other debts of the company upon such terms as may be agreed on with the holders. Amended by L.1948, c. 317, p. 1272, s. 10.
NJ Rev Stat § 48:12-136 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-136 - Filing of survey and maps of lines; relocation of routes

48:12-136. Filing of survey and maps of lines; relocation of routes  When railroad companies have consolidated or merged their corporate franchises and property as provided in this article, the new company so created in the case of a consolidation or the acquiring and surviving company in the case of a merger, shall file and record a survey of its line or lines in this State and file a map thereof in the office of the Secretary of State, and therein may relocate any part of its routes not constructed and locate new routes on making the deposit required by section 48:12-8 of this Title. The line or lines described on such survey or map shall be the line or lines of such railroad company in this State and all other routes, lines or locations in this State not actually built upon shall be deemed to be abandoned. Amended by L.1948, c. 317, p. 1272, s. 11.
NJ Rev Stat § 48:12-137 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-137 - State treasurer to repay deposit in certain cases

48:12-137. State treasurer to repay deposit in certain cases  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.
NJ Rev Stat § 48:12-138 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-138 - Sale or lease; title vested in purchaser or lessee

48:12-138. Sale or lease; title vested in purchaser or lessee  When a sale is made of a railroad in this State under execution or by force of a decree or judgment in foreclosure or insolvency proceedings or otherwise, or when a lease of a railroad is made by a receiver by order of the Superior Court, the sale and conveyance or lease shall vest in the purchaser or lessee such title of the parties to the suit as the court may direct, and may include all property and franchises of the company subject to all conditions, limitations and restrictions. Amended by L.1962, c. 198, s. 148.
NJ Rev Stat § 48:12-139 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-139 - Acceptance of former charter or organization of new company

48:12-139. Acceptance of former charter or organization of new company  The purchaser or lessee and his associates or assigns not less than 3 in number, may within 18 months after the sale or lease, organize as a railroad company under a different corporate name from that of the former company by filing and recording in the office of the Secretary of State a certificate that they accept the charter of the company whose property has been sold or leased and setting forth the further particulars required in a certificate of incorporation under this Title, so far as applicable. Such company shall have all the powers and franchises and be subject to all the restrictions, limitations and conditions of the former company. In lieu of such acceptance of the former charter the purchaser or lessee may form a railroad company under the laws of this State at any time after the sale or lease. The new company may take conveyance of and operate such railroad with the franchises and powers by this chapter conferred in lieu of those granted by special charter. Amended by L.1962, c. 198, s. 149.
NJ Rev Stat § 48:12-140 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-140 - New company may issue bonds and stock; settling debts of former company

48:12-140. New company may issue bonds and stock; settling debts of former company  When a new railroad company is organized to purchase and operate the railroad and franchises of any railroad company of this state sold on foreclosure or insolvency proceedings, and has acquired title to such railroad and franchises pursuant to a plan for readjustment of the interest therein of mortgage creditors, other creditors and stockholders and for the representation of such interest in the bonds, debts or stocks of the new company, the new company may issue its bonds and stock in conformity with such plan and may within six months after its organization, compromise, settle or assume the payment of any debt or liability of the former company on such terms as may be approved by a majority of the agents or trustees intrusted with the carrying out of the plan of reorganization.
NJ Rev Stat § 48:12-141 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-141 - Foreclosure sale of railroad of another state with part of route in this state

48:12-141. Foreclosure sale of railroad of another state with part of route in this state  Where suit is brought to foreclose a mortgage of the railroad and franchises of any railroad company of another State, any part of whose route, whether acquired by lease or otherwise, lies within this State, the suit in this State shall, so far as is consistent with the protection of parties having liens in this State, be conducted as auxiliary to the foreclosure suit in the State where the company is domiciled. The Superior Court may order the sale of property and franchises in this State to be made in such other State at the same time and place as the foreclosure sale therein under such regulations as to advertisement or otherwise and on such terms as the Chancellor may direct. No conveyance shall be made until confirmation of the sale by the Superior Court. The Superior Court may impose such terms as may be equitable upon the acquisition by the purchaser of the property and franchises of the company in the hands of the receiver, if any, in this State. Amended by L.1962, c. 198, s. 150.
NJ Rev Stat § 48:12-142 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-142 - Procedure to acquire property and franchise within state; transfer of property to new company

48:12-142. Procedure to acquire property and franchise within state; transfer of property to new company  Where a new railroad company is formed in the State of the domicile of such former company by or on behalf of the purchasers, to take and operate the railroad and its franchises, the new company may, within 6 months after the sale, apply to the Superior Court in the foreclosure suit in this State by complaint containing a copy of its charter, certificate of incorporation or other documentary legal evidence, and the Superior Court on due proof may adjudge that the new company has been legally created and has acquired the property and franchises of the original company. A duly certified copy of the complaint, proceedings and judgment shall be filed in the office of the Secretary of State. Said record or a copy thereof, shall be evidence of the incorporation and rights in this State of the new company. The purchasers at the official sale of the property and franchises may transfer them to the new company, or, if no conveyance has been made, may assign their bids, in which case the Superior Court may direct the receiver, master or officer to make conveyance to the new company on such terms as shall be equitable. The new company shall possess all powers of corporations organized under the laws of this State and all powers conferred by such laws on the company whose property and franchises were sold. The new company may enjoy the property and exercise the franchises so conveyed to it within this State as fully as if it were organized under the laws of this State, subject to all liens, contracts, limitations, covenants and agreements relative to the mortgaged premises, property and franchises prior to the making of such mortgage. The filing of the record in the office of the Secretary of State shall operate as a covenant to perform such contracts, limitations, covenants and agreements. Amended by L.1962, c. 198, s. 151.
NJ Rev Stat § 48:12-143 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-143 - Purchase by another railroad company of railroad and franchises sold by court order

48:12-143. Purchase by another railroad company of railroad and franchises sold by court order  When the railroad and franchises of a railroad company of this state, or any part thereof are sold by virtue of a decree, order or judgment of a court of competent jurisdiction, any other railroad company of this state owning, leasing or operating a railroad having physical connection therewith, may purchase the road and franchises sold, either at the official sale or from the purchaser thereof at the sale. The railroad and franchises so purchased shall be merged with and become a component part of the purchasing company upon filing and recording in the office of the secretary of state a certificate, executed by its president and secretary, setting forth the purchase, together with a survey of the route and an accurate map thereof.
NJ Rev Stat § 48:12-144 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-144 - Foreclosure sale in another state of foreign railroad operating road within this state

48:12-144. Foreclosure sale in another state of foreign railroad operating road within this state  L.1898, c. 11, p. 23 (C.S. pp. 4264, 4265, s.s. 110 to 113), entitled "A supplement to an act entitled "An act to authorize the formation of railroad corporations and regulate the same,' approved April second, one thousand eight hundred and seventy-three," approved February twenty-third, one thousand eight hundred and ninety-eight, saved from repeal. [This act vests in the purchasers at foreclosure sale made in another state before February 23, 1898, of the mortgaged premises of a foreign railroad, the rights and franchises of such railroad lying within this state upon compliance with certain conditions.]
NJ Rev Stat § 48:12-145 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-145 - Failure to run daily trains; receiver; exceptions

48:12-145. Failure to run daily trains; receiver; exceptions  If a railroad company shall fail or neglect to run daily trains on any part of its road for a space of 10 days the Superior Court, on petition of a citizen of this State and on due proof of the facts, may appoint a receiver who shall take possession of all of the real estate and personal property of the company and operate the road and transact the ordinary business thereof in the transportation of freight and passengers for such time as the Superior Court may direct. All expenses incurred thereby shall be a first lien on all the earnings of the company prior to any other claim and the surplus if any shall be distributed as the Superior Court may direct. The receiver shall apply all unencumbered personal property not required in the operation of the road and all moneys transferred to him at the time of his appointment, towards the payment of wages then due to employees of the company, not exceeding 2 months' wages. This section shall not apply to a railroad at any seaside resort built principally for the transportation of summer travelers nor to a temporary suspension necessary to complete, reconstruct or change the grade of any railroad. Amended by L.1962, c. 198, s. 152.
NJ Rev Stat § 48:12-146 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-146 - Operation of insolvent railroad by receiver; expenses

48:12-146. Operation of insolvent railroad by receiver; expenses  When a railroad company in this State shall become insolvent and its property shall have passed into the hands of a receiver by order of the Superior Court, the receiver shall operate the railroad for the use of the public, subject at all times to the order of the Superior Court. All expenses incident to the operation of the railroad shall be a first lien on the receipts, to be paid before any other encumbrances whatever. Amended by L.1962, c. 198, s. 153.
NJ Rev Stat § 48:12-147 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-147 - Sale or lease of railroad by receiver

48:12-147. Sale or lease of railroad by receiver  The receiver, appointed by the Superior Court, of an insolvent railroad company of this State, or of another State holding railroad franchises and property in this State, may with the approval of the Superior Court, lease or sell the railroad with all its chartered rights, privileges and franchises. The purchaser or lessee shall hold, use and enjoy the same during the residue of the term limited in the charter of the company or during the term in such lease specified as fully as the company could have enjoyed the same, subject to all the restrictions, limitations and conditions contained in the charter. Where the railroad of an insolvent company lies partly in another State, the Superior Court may order the sale of any of its property or franchises at the same time or place, whether in or out of this State, of any official or foreclosure sale thereof out of this State. Such sale may be made in such manner that a purchase thereof may be made on one and the same bid by the purchaser of the property and franchises out of this State or otherwise as the Superior Court may direct, imposing on the purchaser such terms as shall be equitable. The Superior Court may order the company to join with the receiver in the conveyance of the property and franchises. Amended by L.1962, c. 198, s. 154.
NJ Rev Stat § 48:12-148 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-148 - Lease of railroad by trustee or receiver; conditions

48:12-148. Lease of railroad by trustee or receiver; conditions  No lease of a railroad shall be made by a trustee or receiver appointed by the Superior Court except upon a rental and adequate security for the payment of the same, both to be first approved by the Superior Court and a majority of the stockholders of the railroad in interest, upon such public notice to the parties in interest as the Superior Court shall direct. Amended by L.1962, c. 198, s. 155.
NJ Rev Stat § 48:12-149 (2021)
2021 New Jersey Revised Statutes|Title 48 - Public Utilities|Section 48:12-149 - Return to receiver of insolvent railroad money deposited with state treasurer

48:12-149. Return to receiver of insolvent railroad money deposited with state treasurer  When the Superior Court or a court of competent jurisdiction has adjudged a railroad company to be insolvent and appointed a receiver to wind up its affairs, the Superior Court or such court may, upon petition of such receiver and upon such notice as the Superior Court or court may require, order the State Treasurer to pay to the receiver any money of the company deposited with the State Treasurer at the time of its organization, or such part thereof as may remain on deposit. Upon the making of such order the State Treasurer shall pay the money so deposited, or such part thereof as may remain in his hands, to the receiver who shall, after paying his expenses, distribute the balance to such creditors or stockholders as may by law be entitled to receive the same. Amended by L.1962, c. 198, s. 156.