N.J. Stat. § 48:19-5
Any company incorporated prior to April fifteenth, one thousand nine hundred and nineteen, under any other act of the legislature than this chapter, engaged on said date in supplying water for public or private use in any municipality in this state having a population of not more than fifteen thousand and which filed, prior to January first, one thousand nine hundred and twenty, a certificate of reincorporation in the manner prescribed by the act entitled "A supplement to an act entitled "An act for the construction, maintenance and operation of waterworks for the purpose of supplying cities, towns, townships, villages, boroughs and other municipalities in this state with water, and otherwise amending said act,' approved April twenty-first, one thousand eight hundred and seventy-six, as such title was amended by an act approved June twenty-second, one thousand nine hundred and six," approved April fifteenth, one thousand nine hundred and nineteen (L.1919, c. 194, p. 429), shall be deemed to be duly incorporated under this chapter and may continue to maintain, operate and extend its works, mains, pipes and appurtenances in the municipality in which the same are located, as if it had been duly authorized to do so in the manner prescribed in this chapter.
Nothing herein contained shall be construed to limit or interfere with the right of any municipality where the works and appurtenances of any such company are located to regulate the manner of using the streets and public places therein by any such company for the purposes of its business.
N.J.S. § 48:19-5