All stocks, bonds, notes, or other evidence of indebtedness, payable at periods of more than twelve (12) months after the date of issue thereof, issued by any public utility after April 30, 1936, without the consent or permission of the division, as provided in this chapter, shall be void and of no effect.
R.I. Gen. Laws § 39-3-19
Unauthorized securities
G.L. 1923, ch. 253, § 62; P.L. 1936, ch. 2345, § 1; G.L. 1938, ch. 122, § 58; G.L. 1956, § 39-3-19; P.L. 1997, ch. 326, § 106.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.