A public utility may, with the approval of the commission but not otherwise, mortgage its present and future property, tangible and intangible including franchises, to secure the payment of its bonds or notes, including any bonds or notes to be thereafter issued under the provisions of such mortgage; provided, however, that no such approval shall be required for any mortgage of property pursuant to after-acquired clauses of mortgages securing the payment of bonds or notes issued prior to September 1, 1951.
N.H. Rev. Stat. Ann. § 369:2
Mortgages
Applied in 1 court decision — leading case Public Service Co. of New Hampshire v. New Hampshire (In Re Public Service Co.) (1989)
Most recently applied in Public Service Co. of New Hampshire v. New Hampshire (In Re Public Service Co.) (November 1989)
Source. 1913, 145:15
Official source: New Hampshire General Court. Reproduced from public-domain New Hampshire statutes; confirm against the official source for the current text. Not legal advice.