17:25-1 - Classes of stock - New Jersey Statutes

17:25-1.  Classes of stock    No stock company formed under chapters 17 to 33 of this title (s. 17:17-1 et  seq.) shall create more than one class of stock except, however, that preferred  or nonvoting stock, or both, may be issued if the amount of the stock so issued  shall not at any time exceed the amount of common or voting stock, or both,  then issued and outstanding, but preferred stock may be issued without  limitation when such preferred stock is to be purchased or loaned upon by any  corporation, association or agency created by or organized under any law of the  United States of America.