No public utility shall issue any security, or assume any obligation or liability as guarantor, endorser, surety, or otherwise in respect of any security of any other public utility, as defined in this Part or of any other person until it has been authorized to do so by order of the commission.
La. R.S. 45:1168
Security issues and assumptions of liability; commission's authorization necessary
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.