48:12-16. Change of name; extension of corporate existence; change in amount and classes of stock
Every railroad company may, by certificate and proceeding in the manner prescribed by sections 14:11-1 to 14:11-5 of the title Corporations, General:
a. Change its name;
b. Decrease or increase its capital stock;
c. Create one or more classes of preferred stock or prior preference or other special stock;
d. Extend its corporate existence;
e. Change the par value of any class or all classes of the shares of its capital stock with par value;
f. Change the number of its outstanding shares of any class of stock into a different number of shares of said class;
g. Change its preferred or special stock into one or more classes of preferred or special or common stock, or any or all of them;
h. Change its common stock into one or more classes of preferred or special or other common stock, or any or all of them;
i. Change stock with par value (of any class or classes) into stock without par value of the same or of a different class or classes;
j. Change stock without par value into stock with par value of the same or of a different class or classes, either with or without increasing or decreasing the number of shares;
k. Provide for funding or satisfying rights in respect to dividends in arrears by the issuance of stock therefor or otherwise;
l. Provide for the creation and issuance of optional rights to subscribe to stock;
m. Make other provision for the readjustment or reclassification of all or part of its capital stock; or
n. Alter or amend existing provisions for the regulation of the management and affairs of the corporation.
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Last modified: October 11, 2016