56-73 - Penalty as to officers, etc., for violation of provisions of chapter.
§ 56-73. Penalty as to officers, etc., for violation of provisions of chapter.
Every officer, agent or employee of a public service company, and every otherperson (1) who knowingly authorizes, directs, aids in, issues or executes, orcauses to be issued or executed, any stock or stock certificate or otherevidence of interest or ownership, or bond, note or other evidence ofindebtedness, otherwise than in conformity with the order of the Commissionauthorizing the same, or contrary to the provisions of this chapter; or (2)who, in any proceedings before the Commission, knowingly makes any falsestatement or representation or, with knowledge of its falsity, files orcauses to be filed with the Commission any false statement or representationwhich statement or representation so made, filed or caused to be filed maytend in any way to influence the Commission to make an order authorizing theissuance of any stock or stock certificate or other evidence of interest orownership, or any bond, note, or other evidence of indebtedness, or whichresults in procuring from the Commission the making of any such order; or (3)who, with knowledge that any false statement or representation was made tothe Commission in any proceedings tending in any way to influence theCommission to make such order, issues or executes or originally negotiates,or causes to be issued, executed or originally negotiated any such stock orstock certificate or other evidence of interest or ownership, or bond, noteor other evidence of indebtedness; or (4) who, directly or indirectly,knowingly applies, or causes or assists to be applied the proceeds, or anypart thereof, from the sale of any stock or stock certificate or otherevidence of interest or ownership, or bond, note or other evidence ofindebtedness, to any purpose not specified in the Commission's order or toany purpose specified in the Commission's order in excess of the amountauthorized for such purpose; or (5) who, with knowledge that any stock orstock certificate or other evidence of interest or ownership, or bond, noteor other evidence of indebtedness, has been issued or executed in violationof any of the provisions of this chapter, originally negotiates the same, orcauses the same to be originally negotiated, shall be guilty of a misdemeanor.
(1934, p. 225; Michie Code 1942, § 4073(13).)