N.J. Stat. § 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.