No electrical utility, except a municipality, shall issue any securities without the approval of the Commission. Nothing herein contained shall apply to any issue of securities payable within one year from the date thereof, except in case of issues made to refund such short-time obligations; but such short-time obligations may be renewed by similar obligations without the approval of the Commission for an aggregate period of not exceeding two years.
S.C. Code Ann. § 58-27-1710
Securities shall not be issued without approval of Commission; exceptions
1962 Code SECTION 24-81; 1952 Code SECTION 24-81; 1942 Code SECTION 8555-2; 1932 (37) 1497; 1934 (38) 1452; 1935 (39) 207; 1937 (40) 493.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.