The Monte Vista journal., 1912-10-26

~ ti''SatSs ana ponds, notes and
such form and detail as II NAV deem
ADVISABLE, and to establish such rules
ana regulations as IT may deem rea-
sVhhole and necessary to Insure the
disposition OF such proceeds Tor III
der. :" ''s VT
tcl Except as in this act provided. all
STOCK and every stock certificate, and
every bond, note or other evidence OF
Indebtedness, OF q public utility. Issued
without an order OF the commission
authorizing the same then in efrer,
shall be void. and likewise ali stock
ana every stock certificate and every
9ohd, note or other evidence OF In
utotedhess, OF public utility, Issued
with the authorization OF the commits
sion, but not conforming In Its pro
VISIONS to the provisions, II any which
IL Is REQUIRED by the order OF author
s sLni,t OF the commission to contain.
snall be void; but no failure In any
other respect to comply with the
terms or conditions of the order OF au-
InoIlzation, of the commission shall
render void any stock or stock certIn-
rate or any bond, note or other evil
dence OF Indebtedness. except as to a
corporation or person taking the same
Otherwise than In good faith and for
Nalue and without actual notice.
(d) Every public utility which d.
rectly or Indirectly, issues or causes
10 70, be Issued, any stock or stock GER
tiflcate, or bond note or other evil
dence OF Indebtedness, except as pro-
vided In this act, In conformity
with the lawful order OF the commas
sion authorizing the same. and con-
trary to the provisions OF this act, and
OF the constitution or laws OF this
state, or which applies the proceeds
from the sale thereof. or any part
purpose or purposes specified in the
commissions order, as herein pro-
vided, or as allowed by law, or to any
purpose specified In the commissions
NJ h a
order authorized for such purpose. is
subject to penalty of not less than
five hundred dollars nor more than
twenty thousand dollars for each Of
Tense.
(e) Every officer apent or employee
of public utility and every other per-
son who knowingly authorizes. directs.
aids In, issues or executes or causes
to be Issued or executed, any stock or
stock certificate. or bond, note or other
evidence of Indebtedness, except as
with the lawful order of the commits
sion authorizing the same, and con-
trary to the provisions OF this act and
of the constitution or laws of this
the commission, knowingly makes any
false statement or representation or
with knowledge of Its falsity files or
causes to be filed with the commission
any false statement or representation,
which said statement or representa-
tion so made, filed or caused to be filed
may tend In any way to influence the
commission to make an order authoriz-
Ing the Issue of any stock or stock GER
tlflcate, or any bond note or other evil
dence of Indebtedness. or which re-
suits in procuring from the commission
the making OF any such order, or who
with knowledge that any false state
ment or representation was made to
the commission, In any proceeding.
tending In any way to influence the
commission to make such order, issues
or executes or negotiates, or causes to
be issued, executed or negotiated any
such stock or stock certificate or bond
note or other evidence OF Indebtedness
or who, directly or indirectly, knowing
ly applies or causes or assists to be
applied The proceeds of any part there
of from the sa le Of any stock or stock
certificate, or bond, note or other evt e
dence OF Indebtedness. to any purpose
not specified In the commissions lawful
order or allowed by law. or to any
purpose specified In the commissions
order In excess of the amount author
lied for such purpose, or who, with
knowledge that any stock or stock GER
tificate. or bond. note, or other evi,
dence OF Indebtedness. has been Issued
or executed In violation of any OF the
provisions OF this act, negotiates, or
causes the same to be negotiated. shall
az No provision OF this act. and no
deed or act done or performed under or
in connection Herewith. shall be held
or construed to obligate the state OF
manner whatsoever, any stock or stock
certificate, or bond. note or other evil
dence of Indebtedness, authorized. Is
sued or executed under the provisions
of this act.
(g) Except as otherwise provided In
this act, all stocks and stock certifi-
Gates. and bonds, notes and other evi-
dences of Indebtedness issued by any
public utility after this act takes ef-
feet. upon the authority of any articles
OF Incorporation or amendments there
to or vote OF the stockholders or dlrec-
tors filed. taken or had, or other pro-
ceedings taken or had, previous to the
taking effect OF this act. shall be void.
unless an order of the commission au-
thorizlng the issue OF such stocks or
stock certificates or bonds, notes or
other evidences OF Indebtedness shall
have been obtained from the commls-
sion prior to such issue; proNlueu, tna'
utility corporations now having au :
thorized capital stock unsold may sell
or otherwise dispose OF same at NOT
less than par when authorized bv ar
ticies OF incorporation or bylaws or
laws of the state OF Colorado. without
the consent OF the commission. The
commission may In an proper cnses
hereunder by It's order Impose such
condition or conditions as IL may deem
reasonable and necessary.
section a. All hearings and inyesti-
pntIons before the commission or any
commissioner shall be governeo py Sn,s
co1urc IN he adopted by the commits
sion and in the conduct thereof neither
the commission or any commissioner
sheIi he bound by the technical rules
81 Evidence No formallty In any pro-
oeeding or In the manner OF taking
testimony before the commission or
any commissioner shall lnyniidate any
.nrder decision, rule or regulation made,
approyed or confirmed by the commits
sion. ,., ...t..to, ,nd
eocb eommissioner shall have power TO
tss','. yyrlts OF summons, subpnnRs ana
warrants of attachment In the like
manner and to the same extent as
courts OF record, The process issued
hv tho commission, or any commits
sfoner. shall extend to all parts OF the
st9te and NAV be served by any per-
son authorized to serve process OF
.So,,rts OF record or by any person des
tgnated for that purpose by the COM
,SSission or a commissioner The per.