Vermont Statutes Title 11 Sec. 273
Terms Used In Vermont Statutes Title 11 Sec. 273
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
§ 273. Public service corporations, powers of Commission
In authorizing the issue by a corporation, subject to its jurisdiction, of stock without par value as provided by section 262 of this title, the Public Utility Commission shall ascertain the amount of money that is reasonably necessary for the corporation for which such issue of stock has been authorized by the corporation. The Commission shall fix the number of additional shares to be issued and the price per share at such number and prices as in its opinion the public interests shall require, taking into consideration the outstanding securities of the corporation, the value of its property devoted to the public use, the principal market value of such additional shares, and any other pertinent matters. (Amended 1959, No. 329 (Adj. Sess.), § 39, eff. March 1, 1961; 2017, No. 53, § 12.)