(a) Any contract made in violation of this act or any lawful order of the commission shall be void and subject to cancellation and recoupment by action in any court of competent jurisdiction.
(b) Where a contract is made contrary to the provisions of this act or any lawful order of the commission, the commission, after notice and hearing, may order the public utility to take steps within ten (10) days to recover the funds or assets thus illegally loaned or transferred by action in a court of competent jurisdiction or to take such other proceedings as may be effective to release the public utility from any such contract.
Section: Previous 23-1-102 23-1-103 23-1-104 23-1-105 23-1-106 23-1-107 23-1-108 23-1-109 23-1-110 23-1-111 23-1-112 23-1-113 23-1-114 23-1-115 NextLast modified: November 15, 2016