§ 1901. Registration of securities to be issued or assumed
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 66 Pa.C.S.A. Public Utilities
66 Pa.C.S.A. § 1901
§ 1901. Registration of securities to be issued or assumed
(b) Issuance of securities defined.--Issuance of securities includes any act of a public utility executing, causing to be authenticated, delivering or making any change or extension in any term, condition or date of, any stock certificate, or other evidence of equitable interest in itself or any bond, note, trust certificate or other evidence of indebtedness of itself. Issuance of securities does not include the execution, authentication or delivery of the following:
(6) Any evidence of indebtedness in the nature of a contract between a public utility and a vendor of equipment wherein the public utility promises to pay installments upon the purchase price of equipment acquired and which is not in the form of an equipment trust certificate or similar instrument readily marketable to the general public.
(c) Assumption of securities defined.--Assumption of securities includes any act of a public utility assuming primary or contingent liability for the payment of any dividends upon any stocks or of any principal or interest of any indebtedness, created or incurred by any other person or corporation. Assumption of securities does not include the acquisition of all property of the issuing company by the assuming company as provided in section 1102(3)1 (relating to enumeration of acts requiring certificate) if the approval of the commission is obtained.
Credits
1978, July 1, P.L. 598, No. 116, § 1, effective in 60 days.
Footnotes
So in original. Probably should be “section 1102(a)(3)”.
66 Pa.C.S.A. § 1901, PA ST 66 Pa.C.S.A. § 1901
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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