§ 39-3-19 — § 39-3-19. Unauthorized securities.

§ 39-3-19. Unauthorized securities.

All stocks, bonds, notes, or other evidence of indebtedness, payable at periods of more than twelve (12) months after the date of issue thereof, issued by any public utility after April 30, 1936, without the consent or permission of the division, as provided in this chapter, shall be void and of no effect.

Legislative History

G.L. 1923, ch. 253, § 62; P.L. 1936, ch. 2345, § 1; G.L. 1938, ch. 122, § 58; G.L. 1956, § 39-3-19; P.L. 1997, ch. 326, § 106.