Maine § 35-A §908 Additional requirements as to issuance

Maine Statutes

§ 35-A §908 — Additional requirements as to issuance

Maine·Title 35-A PUBLIC UTILITIES·Part 1 PUBLIC UTILITIES COMMISSION·Ch. 9 APPROVAL OF STOCKS, BONDS AND NOTES BY PUBLIC UTILITIES COMMISSION

1.Commission's order recorded on utility's books. No public utility may issue any stocks, bonds, notes or other evidences of indebtedness, unless payable within one year from date of issuance, for money, property or services, in payment for them, either directly or indirectly, until the commission's authorizing order is recorded on the utility's books.

2.Commission consent for refund of indebtedness. No indebtedness may in whole or in part, directly or indirectly, be refunded by any issue of stocks or bonds or by any other evidence of indebtedness, running for more than 12 months, without the consent of the commission.

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Commission's order recorded on utility's books.
No public utility may issue any stocks, bonds, notes or other evidences of indebtedness, unless payable within one year from date of issuance, for money, property or services, in payment for them, either directly or indirectly, until the commission's authorizing order is recorded on the utility's books.
2.
Commission consent for refund of indebtedness.
No indebtedness may in whole or in part, directly or indirectly, be refunded by any issue of stocks or bonds or by any other evidence of indebtedness, running for more than 12 months, without the consent of the commission.

Maine § 35-A §908 (Additional requirements as to issuance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.