69-3-504. Decision on petition. After such hearing and upon such notice as the commission may prescribe, the commission shall enter its written order approving the petition and authorizing the proposed securities transactions unless the commission shall find that:
(1) such transactions are inconsistent with the public interest;
(2) the purpose or purposes thereof are not permitted by this part; or
(3) the aggregate amount of the securities outstanding and proposed to be outstanding would exceed the fair value of the properties and business of the public utility.
History: En. Sec. 2, Ch. 74, L. 1961; R.C.M. 1947, 70-117.2(part).
Structure Montana Code Annotated
Title 69. Public Utilities and Carriers
Chapter 3. Regulation of Utilities
Part 5. Issuance of Securities and Creation of Liens
69-3-501. Regulation of issuance of securities and creation of liens by utilities
69-3-502. Petition for issuance of securities
69-3-503. Prompt consideration of petition
69-3-504. Decision on petition
69-3-505. Issuance of certain short-term obligations