§ 34-505. Application of proceeds of stock.

Current through October 23, 2012

No public utility shall apply the proceeds of any such stock, certificates of stock, bonds, or other evidences of indebtedness to any other purpose or issue the same on any less favorable terms than that specified in the certificate issued by the Commission.

                
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(Mar. 4, 1913, 37 Stat. 990, ch. 150, § 8, par. 77.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 43-705.

1973 Ed., § 43-806.