California § 820. 820. (Enacted by Stats. 1951, Ch. 764.)

California Statutes

§ 820. — 820. (Enacted by Stats. 1951, Ch. 764.)

California § 820.

JurisdictionCalifornia

Code PUCPublic Utilities Code - PUC

Div. 1.DIVISION 1. REGULATION OF PUBLIC UTILITIES

Part 1.PART 1. PUBLIC UTILITIES ACT

Ch. 4.CHAPTER 4. Regulation of Public Utilities

Art. 5.ARTICLE 5. Stocks and Security Transactions

This text of California § 820. (820. (Enacted by Stats. 1951, Ch. 764.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Public Utilities Code - PUC Code § 820. (2026).

Text

The commission shall have no power to authorize the capitalization of the right to be a corporation, or the capitalization of any franchise or permit, or the right to own, operate, or enjoy any such franchise or permit, in excess of the amount (exclusive of any tax or annual charge) actually paid to the State or to a political subdivision thereof as the consideration for the grant of such franchise, permit, or right. No contract for consolidation or lease shall be capitalized, nor shall any public utility issue any bonds, notes, or other evidences of indebtedness against or as a lien upon any contract for consolidation or merger.

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The commission shall have no power to authorize the capitalization of the right to be a corporation, or the capitalization of any franchise or permit, or the right to own, operate, or enjoy any such franchise or permit, in excess of the amount (exclusive of any tax or annual charge) actually paid to the State or to a political subdivision thereof as the consideration for the grant of such franchise, permit, or right. No contract for consolidation or lease shall be capitalized, nor shall any public utility issue any bonds, notes, or other evidences of indebtedness against or as a lien upon any contract for consolidation or merger.