No public utility shall, without the consent of the Public Utilities Commission, apply any security or any proceeds thereof to any purpose not specified in the commission’s order, or supplemental order, or to any purpose in excess of the amount allowed for such purpose in such order, or otherwise in contravention of such order.

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Source: SL 1975, ch 283, § 20.