48:12-16 - Change of name; extension of corporate existence; change in amount and classes of stock
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.
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.