The commission shall have no power to authorize the issuance of stocks, notes, bonds, or other evidence of indebtedness of any public utility in an aggregate amount at any time exceeding the fair value of the properties of the issuer and the reasonable cost of the issuance and sale of the issues.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 1 - Public Utilities And Carriers
Chapter 3 - Regulation of Utilities and Carriers Generally
Subchapter 1 - General Provisions
§ 23-3-101. Organization or reorganization
§ 23-3-102. Consolidations, stock purchases in another utility, or rentals of additional property
§ 23-3-103. Stocks, bonds, notes, etc., and creation of liens — Regulation by commissions
§ 23-3-104. Stocks, bonds, notes, etc. — Issuance
§ 23-3-105. Stocks, bonds, notes, etc. — Amount of issue
§ 23-3-106. Stocks, bonds, notes, etc. — Disposition of proceeds
§ 23-3-107. Stocks, bonds, notes, etc. — Liability of state
§ 23-3-108. Domestication of foreign railroad, pipeline, or electric light and power corporations
§ 23-3-109. Annual statements of gross earnings
§ 23-3-110. Annual fees generally
§ 23-3-111. Fees — Foreign companies doing intrastate business
§ 23-3-112. Forms sent to utilities to be filled out and returned
§ 23-3-113. Adequate service, facilities, etc., to be provided
§ 23-3-114. Unreasonable preferences prohibited
§ 23-3-115. Wires transmitting electricity or messages over public or private ways
§ 23-3-117. Contracts for interruptible service with industrial users