No public utility shall issue any stocks, certificates of stock, bonds, or other evidences of indebtedness for money, property, or services, either directly or indirectly, nor shall it receive any money, property, or services in payment of the same, either directly or indirectly, until there shall have been recorded upon the books of such public utility the certificate of the Commission in this subtitle provided for.
(Mar. 4, 1913, 37 Stat. 990, ch. 150, § 8, par. 74.)
1981 Ed., § 43-703.
1973 Ed., § 43-803.
Penal provisions, stock issue by false statements, see § 34-701.
Structure District of Columbia Code
Chapter 5 - Issuance of Securities
§ 34–501. Creation of liens on property of utilities; supervision by Commission
§ 34–502. Certificate showing authority to issue stock or pay dividends to be obtained
§ 34–503. Stocks not to be issued until certificate is recorded
§ 34–505. Application of proceeds of stock
§ 34–506. Stock to be void unless law is complied with
§ 34–507. Penalty for improper issuance or application of stock or proceeds