Section 759.300 – “Stocks” defined.
As used in ORS 759.300 to 759.360, “stocks” means stocks, stock certificates or other evidence of interest or ownership. [1987 c.447 §28]
Section 759.305 – Power to regulate issuance of telecommunications stocks; rules.
The power of telecommunications utilities to issue stocks and bonds, notes and other evidences of indebtedness and to create liens on their property situated within this state is a special privilege, the right of supervision, regulation, restriction and control of which is and shall continue to be vested in the state. Such power shall be […]
Section 759.310 – When issuance of securities void.
All stocks and bonds, notes or other evidences of indebtedness and any security of a telecommunications utility shall be void when issued: (1) Without an order of the Public Utility Commission authorizing the same then in effect except as provided in ORS 759.315 (3) or (5). (2) With the authorization of the commission, but not […]
Section 759.315 – Purposes for which securities may be issued; order required; exceptions; rules.
(1) A telecommunications utility may issue stocks and bonds, notes and other evidences of indebtedness, and securities for the following purposes and no others, except as otherwise permitted by subsection (4) of this section: (a) The acquisition of property, or the construction, completion, extension or improvement of its facilities. (b) The improvement or maintenance of […]
Section 759.320 – Application of ORS 759.315.
ORS 759.315 does not apply to the issuance, renewal or assumption of liability on any evidence of indebtedness when such issuance, renewal or assumption is for the purpose of acquiring specific real or personal property, if the aggregate principal amount thereof, together with all other then outstanding evidences of indebtedness issued, renewed or assumed under […]
Section 759.325 – Application of ORS 759.375.
ORS 759.375 does not apply to any mortgage or other encumbrance upon any real or personal property given to secure payment of any evidence of indebtedness issued under ORS 759.315. [1987 c.447 §33]
Section 759.330 – Hearings and supplemental orders for securities issuance; joint approval for issuance by utility operating in another state.
(1) To enable the Public Utility Commission to determine whether the commission will issue an order under ORS 759.315, the commission may hold a hearing and may make such additional inquiry or investigation, examine such witnesses, books, papers, documents and contracts and require the filing of such data as the commission deems necessary. The application […]
Section 759.335 – Obligation of state as consequence of approval of issuance.
No provision of ORS 759.300 to 759.360, and no deed or act done or performed under or in connection therewith, shall be held or construed to obligate the State of Oregon to pay or guarantee, in any manner whatsoever, any stock or bond, note or other evidence of indebtedness, authorized, issued or executed under the […]
Section 759.340 – Conditional approval of issuance.
The Public Utility Commission may by order grant permission for the issue of stocks or bonds, notes or other evidences of indebtedness in the amount applied for, or in a lesser amount, or not at all, and may attach to the exercise of the permission such condition or conditions as the commission deems reasonable and […]
Section 759.345 – Use of proceeds from issuance; accounting; rules.
(1) No telecommunications utility shall, without the consent of the Public Utility Commission, apply the issue of any stock or bond, note or other evidence of indebtedness, or any part or proceeds thereof, to any purpose not specified in the commission’s order, or to any purpose specified in the commission’s order in excess of the […]
Section 759.350 – Limitation on authority of utility to guarantee debt of another.
No telecommunications utility shall assume any obligation or liability as guarantor, indorser, surety or otherwise in respect to the securities of any other person, firm or corporation, when such securities are payable at periods of more than 12 months after the date thereof, without first having secured from the Public Utility Commission an order authorizing […]
Section 759.355 – Issuance or use of proceeds contrary to commission order.
No telecommunications utility shall directly or indirectly, issue or cause to be issued any stock or bond, note or other evidence of indebtedness in nonconformity with the order of the Public Utility Commission authorizing the same or contrary to the provisions of ORS 759.300 to 759.360, or of the Constitution of this state, or apply […]
Section 759.360 – Prohibited acts regarding issuance of securities.
No person shall: (1) Knowingly authorize, direct, aid in, issue or execute, or cause to be issued or executed, any stock or bond, note or other evidence of indebtedness, in nonconformity with the order of the Public Utility Commission authorizing the same, or contrary to the provisions of ORS 759.300 to 759.360 or of the […]