Okla. Admin. Code § 165:5-7-52

Current through Vol. 42, No. 7, December 16, 2024

Section 165:5-7-52 - Public utility certificate of authority for issuance of securities

(a) Any public utility, as defined in 17 O.S. § 181, desiring to issue securities or to create liens to secure evidences of indebtedness pursuant to the above statute, shall file an application setting forth:

(1) The amount and character of the proposed securities or liens.

(2) The general purposes for which they are to be issued or created, including a description and statement of the value of any property or services that are to be received in full or partial payment for the securities or in a proper case the evidence of indebtedness to be secured by the lien or liens.

(3) Any property or services already received by the public utility, the cost of which is to be reimbursed to the public utility by the proceeds of such securities or evidences of indebtedness.

(4) The most recent balance sheet of the public utility certified by their independent auditor.

(b) The application shall be verified by the public utility's president or vice president or by the signers of its articles of organization if it has not yet elected officers.

Okla. Admin. Code § 165:5-7-52