Sec. 16-43a. Validity of securities issued pursuant to order of department.
Sec. 16-43a. Validity of securities issued pursuant to order of department. Any
stock, notes, bonds or other evidences of indebtedness or securities of any nature issued
or sold pursuant to or in reliance on and in accordance with any order, authorization or
decision of the Department of Public Utility Control pursuant to this title shall be valid
and binding in accordance with their terms notwithstanding such order, authorization
or decision of the department is later vacated, modified, or otherwise held to be wholly
or partly invalid, unless operation of such order, authorization or decision of the department has been stayed or suspended by the department or the reviewing court prior to
such issuance.
(P.A. 78-100; 78-303, S. 85, 136; P.A. 80-482, S. 76, 348.)
History: P.A. 78-303 allowed substitution of division of public utility control within the department of business regulation for public utilities control authority to comply with provisions of P.A. 77-614; P.A. 80-482 made division of public
utility control an independent department and deleted reference to abolished department of business regulation.