23-3-103. Stocks, bonds, notes, etc., and creation of liens — Regulation by commissions.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-3-103. Stocks, bonds, notes, etc., and creation of liens — Regulation by commissions.

23-3-103. Stocks, bonds, notes, etc., and creation of liens — Regulation by commissions. (a)(1) The power of public utilities to issue stocks, stock certificates, bonds, notes, and other evidences of indebtedness in case of public utilities incorporated under the laws of this state and to create liens on property in this state in case of public utilities incorporated under the laws of any state or foreign country is a special privilege, the right of supervision, regulation, restriction, and control of which is, and shall continue to be, vested in the state. (2) The power of public utilities described in subdivision (a)(1) of this section shall be exercised as provided by law and under such rules as the Arkansas Public Service Commission may prescribe. (b) In instances where the public utility is also a regional transmission organization that is jurisdictional to the Federal Energy Regulatory Commission and the debt is authorized by the Federal Energy Regulatory Commission and does not create a lien on property in this state, no commission authorization is required.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-3-103

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.