No public utility shall apply the proceeds of any such stock, certificates of stock, bonds, or other evidences of indebtedness to any other purpose or issue the same on any less favorable terms than that specified in the certificate issued by the Commission.
(Mar. 4, 1913, 37 Stat. 990, ch. 150, § 8, par. 77.)
1981 Ed., § 43-705.
1973 Ed., § 43-806.
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