New Jersey Revised Statutes § 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.


Section: Previous  48-12-139  48-12-140  48-12-141  48-12-142  48-12-143  48-12-144  48-12-145  48-12-146  48-12-147  48-12-148  48-12-149  48-12-150  48-12-151  48-12-152  48-12-153  Next

Last modified: October 11, 2016