TITLE 39
Public Utilities and Carriers

CHAPTER 39-3
Regulatory Powers of Administration

SECTION 39-3-22


§ 39-3-22 Security dividends – Distribution of proceeds of securities.

No public utility shall declare any stock, bond, or scrip dividend or divide the proceeds of the sale of any stock, bond, or scrip among its stockholders without the consent and permission of the division.

History of Section.
(G.L. 1923, ch. 253, § 62; P.L. 1936, ch. 2345, § 1; G.L. 1938, ch. 122, § 58; G.L. 1956, § 39-3-22; P.L. 1966, ch. 83, § 1.)