35-A §909. Stock for organization purposes
Title 35-A: PUBLIC UTILITIES HEADING: PL 1987, C. 141, PT. A, §6 (NEW)
Part 1: PUBLIC UTILITIES COMMISSION HEADING: PL 1989, C. 502, PT. A, §123 (RP)
Chapter 9: APPROVAL OF STOCKS, BONDS AND NOTES BY PUBLIC UTILITIES COMMISSION HEADING: PL 1987, C. 141, PT. A, §6 (NEW)
§909. Stock for organization purposes
Any public utility corporation at the time of its organization may issue for organization purposes, without the consent of the commission, not more than 6 shares of stock at par for cash or, if non-par stock, for the consideration of $100 per share, these shares when issued to be a part of the total capital issue. [1987, c. 141, Pt. A, §6 (NEW).]
SECTION HISTORY
1987, c. 141, §A6 (NEW).