No provision of this chapter, and no deed or act done or performed under or in connection therewith, shall be held or construed to obligate the Commonwealth of Virginia to pay or guarantee, in any manner whatsoever, any stock or stock certificate or other evidence of interest or ownership, or bond, note or other evidence of indebtedness, authorized, issued or executed under the provisions of this chapter, nor shall any approval given under this chapter involve, or be construed or represented as involving, an expression of opinion on the part of the Commission as to value, and any person who shall make, directly or by implication, any statement or representation to the contrary shall be guilty of a misdemeanor.
1934, p. 226; Michie Code 1942, § 4073(14).
Structure Code of Virginia
Title 56 - Public Service Companies
Chapter 3 - Issuance of Stocks, Bonds, Etc.
§ 56-56. Issue of securities a special privilege subject to regulation
§ 56-57. Securities to which chapter is applicable
§ 56-58. Purposes for which stock, etc., may issue
§ 56-59. Order required before acting as surety, guarantor, etc.
§ 56-60. Application for order authorizing issuance of securities or assumption of liabilities
§ 56-61. Action of Commission on such application
§ 56-62. Joint action with commission of another state
§ 56-63. Appeal from decision of Commission on issuance of securities
§ 56-65. Exceptions as to issue of stock, etc., in treasury, etc.
§ 56-65.1. Short-term indebtedness
§ 56-66. No authority to capitalize permit, franchise or contract for consolidation
§ 56-67. Issuance of securities or assumption of liability void if order not obtained
§ 56-67.1. Validity of authorized securities
§ 56-68. No licensed salesman required when securities approved under this chapter
§ 56-69. Purposes to which proceeds of security issues may be applied
§ 56-70. Accounting for disposition of proceeds of issue of securities
§ 56-71. Violations of provisions of chapter; penalty
§ 56-72. Acts of officers, etc., bind company
§ 56-73. Penalty as to officers, etc., for violation of provisions of chapter
§ 56-74. State not obligated to pay or guarantee
§ 56-75. Fees in connection with applications for authority to issue securities