56-85 - Offenses.
§ 56-85. Offenses.
Every public service company (1) entering into, participating in or actingunder any contract or arrangement, required by this chapter to be approved bythe Commission, before obtaining such approval, or (2) making any loan,extension or renewal thereof, or assuming any obligation or liability, orextension or renewal of any such obligation or liability, required by thischapter to be approved by the Commission, before obtaining such approval, or(3) making any declaration or payment of any dividends after entry of asummary order, either temporary or permanent, prohibiting such declaration orpayment in accordance with the provisions of this chapter, or (4) otherwiseviolating any provision of this chapter, or of any valid order of theCommission entered in pursuance thereof, shall be subject to a fine, to beimposed in a proceeding before the Commission instituted for the purpose ofdetermining whether there is any liability hereunder, of not less than $10and not in excess of $500, together with the costs of the proceeding asadjudged by the Commission and as taxed by the clerk of the Commissionaccording to law; and every day of any such violation which, in its nature,is continuing, may be deemed a separate offense.
Every public service company and every affiliated interest participating inany contract, arrangement, loan, or assumption, declaration or payment ofdividends, or doing any other act, in violation of this chapter, or inviolation of any valid order of the Commission hereunder, and every officer,director, or employee of any such public service company or of any suchaffiliated interest, knowingly authorizing, directing, aiding in or executingor causing to be executed, any such contract or arrangement, loan orassumption, declaration or payment of dividends, in violation of thischapter, or in violation of any valid order of the Commission hereunder,shall be guilty of a misdemeanor, and such liability for a misdemeanor shallbe in addition and cumulative to any liability for the imposition of a fineor penalty as hereinbefore provided in this section.
(1938, p. 22; Michie Code 1942, § 3774i3.)