North Dakota § 49-04-04 Power of public utility to issue evidence of indebtedness

North Dakota Statutes

§ 49-04-04 — Power of public utility to issue evidence of indebtedness

North Dakota § 49-04-04

Title 49Public Utilities

Ch. 49-04Duties of Public Utilities

This text of North Dakota § 49-04-04 (Power of public utility to issue evidence of indebtedness) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 49-04-04 (2026).

Text

The power of a public utility to issue stocks, bonds, notes, and other evidences of
indebtedness or to create liens upon its property situated in this state, except such as are
payable within one year from date of issue, is a special privilege and shall be exercised by such
utility under the supervision, regulation, restriction, and control of the commission, subject to
such rules and regulations as the commission may prescribe. This section does not apply to the
issuance by public utilities of securities registered with the federal securities and exchange
commission or to the issuance by public utilities of securities not involving any public offering.

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The power of a public utility to issue stocks, bonds, notes, and other evidences of
indebtedness or to create liens upon its property situated in this state, except such as are
payable within one year from date of issue, is a special privilege and shall be exercised by such
utility under the supervision, regulation, restriction, and control of the commission, subject to
such rules and regulations as the commission may prescribe. This section does not apply to the
issuance by public utilities of securities registered with the federal securities and exchange
commission or to the issuance by public utilities of securities not involving any public offering.