New Jersey Statutes Title 14A. Corporations, General 14A § 7-1

(1) Each corporation shall have power to create and issue the number of shares stated in its certificate of incorporation.  Such shares may consist of one class or may be divided into two or more classes and any class may be divided into one or more series.  Each class and series may have such designation and such relative voting, dividend, liquidation and other rights, preferences, and limitations as shall be stated in the certificate of incorporation, except that all shares of the same class shall be either without par value or shall have the same par value.  Each class and series shall be designated so as to distinguish its shares from those of every other class and series.

(2) In particular, and without limitation upon the general power granted by subsection 14A:7-1(1), a corporation, when so authorized in its certificate of incorporation, may issue classes of shares and series of shares of any class