Statutes, codes, and regulations
Oregon Revised Statutes
Title 57 - UTILITY REGULATIONChapter 757 - UTILITY REGULATION GENERALLYISSUANCE OF SECURITIES
UTILITY SECURITIES GENERALLY
Section 757.440 - Approval required before utility may guarantee another's indebtedness

ORS § 757.440

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Current through 2024 Regular Session legislation effective June 6, 2024
Section 757.440 - Approval required before utility may guarantee another's indebtedness

No public 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 it so to do. Every assumption made other than in accordance with such an order is void.

ORS 757.440