The Elbert County tribune., 1914-10-16

indebtedness as = lien thsrson without
the consent OF the commission. The
ccmmission shall have no power to au-
90 be corporation. or to authorizs
the capitalization of any franchise or
or or saes sn f.
elusive OF any tax or annual eharEe)
litical subdivision thereof as the con-
alteration for the grant of such fran
chise. permit or riEht.
tc) The commission shall have the
power TO require public utilities to ac-
count Tor the disposition of the pro-
csrsss,c, csras OF an d sale, OF stock and stock
er evidences of indebtedness In such
form and detail as II may deem advis-
regulations as~it may deem reasonable
and necessary TO insure the disposition
n hs sse orasr gsrpos'
Id All stock and every stock certifi-
cate and every bond. note; or other
utility. issued without an order of the
commission authorizing the same then
Stock and 1" Every y stock stock p csptifiesfe' s and nd
Lnde tedness. OF a public utiiity Issued
sion but not conforming in its pro-
visions to the provisions, IL any. which
ization OF the commission to contain
shall be void: but no failure in any
other respect to comply with the terms
or conditions of the order of authoriz-
alton of the commission shall render
void any stock or stock certificate. or
any bond. note or other evidence of in
debtedness. except as to a corporation
or person taking the same otherwise
than In good faith and for value and
without actual notice.
(e) Every public utility which. d.
rectly or indirectly. issues or causes TO
be issued. any stock or stock certificate.
cebtedness. in non-conformity with tho
order of the commission authorizing the
this act or OF the constitution 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 provided.
CO eommmls@sion's m @ S orSer in pes,e excess OF the the
amount in said order authorized for
such purposes. is subject to a penalty
lars for each offense.
% Every officer, agent or employee
person who knowingly authorizes di-
rects. aids In issuing or executes. or
causes to be issued or executed, any
CT other evidence of Indebtedness. in
non-conformity with the order of the
contrary to the provisions. of this act.
or of the constitution of this State
or who. In any proceeding before the
commission. knowingly makes any
with Knowledge of its faisity files or
causes to be filed with the commission
any false statement or representation
which said statement or representation
so made. filed or caused to be filed may
tend in any way to influence the. com
mission to make an order authorizing
the issue OF any stock or stock certifi-
dence OF Indebtedness. or which results
In procuring from the commission the
making OF any such order. or who. with
representation was made to the COM
mission. in any proceeding. tending in
any way to Influence the commission
to make such an order. issues or exc
cutes or negotiate5 or causes to be
issued. executed or negotiated any
bond. note or other evidence of indebt-
edness. or who. directly or indirectly
to be applied the proceeds or any part
thereof. from the sale of any stock or
stock certificate. or bond. note or other
pose not specified in the commissions
order. or to any purpose spccified in
amount authorized for such purpose.
or who. with knowledge that any
stock or stock certificate or bond. note
been issued or executed in violation OF
my of the provisions of this act. nego-
tiates. or causes the same to be nego-
tiated. shall be guilty of a felony, and
punished accordingly.
tR) 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 Colorado to pay or guarantee. in
ony manner whatsoever. any stock or
stock certificate. or bond. note or other
evidence of Indebtedness. authorized
issued or executed under the provis-
ions of this act
(h) All stocks and stock certificates
and bonds. notes and other evidences
of Indebtedness issued by any public
utility after this act takes effect upon
the authority of any articles of incor-
poration or amendments thereto or vote
of the stockholders or directors filed
taken or had. or other proceedings
taken or had. previous to the taking
effect of this act. shall be void. unless
an order of the commission authorizing
the Issue of such stocks or stock GER
tificates. or bonds. notes or other evil
dences of indebtedness shall have been
obtained from the commission prior to
such Issue. The commission may by
its order impose such condition or con-
ditions as 1t may deem reasonable and
necessary.
In Testimony Whereof, have here
unto set my hand and affixed the
Great Seal OF the State of Colorado.
at the City of Denver, this twenty
sixth dav of September. A ID. I9f4
ZINES B. PEARcE
tSeaD Secretary of State.
IN