D.C. Code § 34-507

Current through codified legislation effective September 18, 2024

Section 34-507 - Penalty for improper issuance or application of stock or proceeds

Any public utility, or any agent, director, or officer thereof, who shall, directly or indirectly, issue or cause to be issued any stocks, certificates of stock, bonds, or other evidences of indebtedness contrary to the provisions of this subtitle, or who shall apply the proceeds from the sale thereof to any purposes other than that specified in the certificate of the Commission, shall forfeit and pay into the Treasury of the United States, to the credit of the General Fund of the District of Columbia, not less than $1,000 nor more than $10,000 for each offense.

D.C. Code § 34-507

Mar. 4, 1913, 37 Stat. 990, ch. 150, § 8, par. 79; Feb. 22, 1921, 41 Stat. 1144, ch. 70, § 7; June 28, 1944, 58 Stat. 533, ch. 300, § 18.

Penal provision, recovery on rights, penalties and forfeitures, see § 34-711. Penal provisions, deposits from fines and penalties, see § 34-710. Penal provisions, stock issue by false statements, see § 34-701. Failure to obey Commission, penalties, see §§ 34-706, 34-731 and 34-732. General provisions, construction and severability of law, see § 34-403. .