TITLE XXXIV
PUBLIC UTILITIES

CHAPTER 369
ISSUANCE OF STOCK AND OTHER SECURITIES; GENERAL PROVISIONS

Section 369:11

    369:11 Application of Proceeds. – No public utility shall apply the proceeds of any stock, bonds or notes to any other purpose than those specified in the order of the commission authorizing the issue of the same.

Source. 1911, 164:14. 1913, 145:14. 1917, 76:6. PL 241:12. RL 291:13. 1951, 203:45 par. 11, eff. Sept. 1, 1951.