48:12-17 - Voting by bondholders
48:12-17.Ā Voting by bondholders
The stockholders of any railroad company may, by agreement expressed in theĀ certificate of incorporation, or in a supplementary certificate executed andĀ acknowledged by every stockholder and filed in like manner as the originalĀ certificate, authorize and empower the holders of bonds of the company securedĀ by mortgage on its property and franchises, to vote at meetings ofĀ stockholders, in person or by proxy, either for the election of directors orĀ for other purposes.
Each bondholder shall cast as many votes as shall be fixed by the certificate of incorporation or by any supplemental certificate executed, acknowledged and filed as above provided, and the production of his bonds shallĀ be evidence of his right to vote.Ā Every bondholder so voting shall be subject,Ā to the extent of the amount of his bonds, to the same liabilities as stockholders.
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The stockholders of any railroad company may, by agreement expressed in theĀ certificate of incorporation, or in a supplementary certificate executed andĀ acknowledged by every stockholder and filed in like manner as the originalĀ certificate, authorize and empower the holders of bonds of the company securedĀ by mortgage on its property and franchises, to vote at meetings ofĀ stockholders, in person or by proxy, either for the election of directors orĀ for other purposes.
Each bondholder shall cast as many votes as shall be fixed by the certificate of incorporation or by any supplemental certificate executed, acknowledged and filed as above provided, and the production of his bonds shallĀ be evidence of his right to vote.Ā Every bondholder so voting shall be subject,Ā to the extent of the amount of his bonds, to the same liabilities as stockholders.
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