No public utility or railroad shall declare any stock, bond, or scrip dividend or distribution, or divide the proceeds of the sale of any stock, bond, or scrip among its stockholders, unless it is authorized to do so by the public utilities commission.
This section does not apply to telephone companies.
Amended by 128th General AssemblyFile No.43, SB 162, ยง1, eff. 9/13/2010.
Effective Date: 10-05-1999
Section: Previous 4905.402 4905.403 4905.41 4905.42 4905.43 4905.44 4905.45 4905.46 4905.47 4905.48 4905.49 4905.491 4905.50 4905.51 4905.52 NextLast modified: October 10, 2016