§ 37-4-5 — Sale or Purchase of Securities by Utility Employees

Alabama § 37-4-5

• Jurisdiction: Alabama
• Title 37: Public Utilities and Public Transportation
• Ch. 4: Public Utilities Other Than Transportation Companies or Motor Vehicle Carriers
• Art. 1: Rate and Other Regulations

Text

No utility shall permit any employee to sell, offer for sale, or solicit the purchase of any security of any other person or corporation during such hours as such employee is engaged to perform any duty of such utility; nor shall any utility by any means or device whatsoever require any employee to purchase or contract to purchase any of its securities or those of any other person or corporation; nor shall any utility require any employee to permit the deduction from his wages or salary of any sum as a payment or to be applied as a payment on any purchase or contract to purchase any security of such utility or of any other person or corporation.

Legislative History

(Acts 1932, Ex. Sess., No. 232, p. 233; Code 1940, T. 48, §304.)