No public utility shall declare any stock, bond, or scrip dividend or divide the proceeds of the sale of any stock, bond, or scrip among its stockholders without the consent and permission of the division.
R.I. Gen. Laws § 39-3-22
Security dividends — Distribution of proceeds of securities
G.L. 1923, ch. 253, § 62; P.L. 1936, ch. 2345, § 1; G.L. 1938, ch. 122, § 58; G.L. 1956, § 39-3-22; P.L. 1966, ch. 83, § 1.
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.