66-126. Unlawful securities; penalty.
66-126
66-126. Unlawful securities; penalty.Any common carrier or public utility governed by the provisions of thisact, or any agent, director or officer thereof, who shall, directly orindirectly, issue or cause to be issued any stock, certificate of stock,bonds or other evidences of indebtedness contrary to the provisions of thisact, or who shall apply the proceeds from the sale thereof to any purposeother than that specified in the certificate of the commission, as hereinprovided, shall be guilty of a misdemeanor, and upon conviction thereofshall be fined not less than five hundred dollars and not more than fivethousand dollars, or by imprisonment in the county jail not more than oneyear, or by both such fine and imprisonment.
History: L. 1911, ch. 238, § 26; May 22; R.S. 1923, 66-126.