District of Columbia Statutes

§ 34-505 — Application of proceeds of stock.

District of Columbia·Title 34 Public Utilities.·Ch. 5 Issuance of Securities.

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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Legislative History

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

Nearby Sections

15

§ 34-1001

Assignment of franchise; acquisition of stocks and bonds of competing utilities.

§ 34-1002

Antimerger law.

§ 34-101

Applicability of this subtitle.

§ 34-102

Corporations subject to this subtitle.

§ 34-1101

Utility service and charges to be just and reasonable; certification required.

§ 34-1102

Use of equipment of other companies; application to Commission to require such use in event of disagreement.

§ 34-1103

Commission to compel compliance with laws and ordinances.

§ 34-1104

Proposed changes in law to be submitted to Commission; hearings; recommendations to Congress.

§ 34-1105

Commission to ascertain cost of construction, replacement value, outstanding stock; information to be printed in annual report.

§ 34-1106

Property to be valued as of time of evaluation.

§ 34-1107

Valuation; notice and hearing; statement of valuation to be filed.

§ 34-1108

§ 34-1109

Uniform accounts to be rendered; separate account of other business may be required.

§ 34-1110

Commission to prescribe forms of books and records.

§ 34-1111

Commission to furnish blank forms.

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