N.J. Stat. § 48:15-13: Borrowing money; limitation

Any street railway or traction company may borrow from time to time such sums of money as may be necessary for the accomplishment of the objects of the company, not exceeding at any one time the amount of its capital stock issued, outstanding and fully paid for.

Amended by L.1946, c. 287, p. 981, s. 2, eff. May 3, 1946.