[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
90_HB0838
220 ILCS 5/6-101 from Ch. 111 2/3, par. 6-101
Amends the Public Utilities Act. Adds a caption to a
Section of the Act concerning the authority to issue
securities.
LRB9003399JSgc
LRB9003399JSgc
1 AN ACT to amend the Public Utilities Act by changing
2 Section 6-101.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Public Utilities Act is amended by
6 changing Section 6-101 as follows:
7 (220 ILCS 5/6-101) (from Ch. 111 2/3, par. 6-101)
8 Sec. 6-101. Authority to issue securities. The power of
9 public utilities to issue stocks, stock certificates, bonds,
10 notes and other evidences of indebtedness and to create liens
11 on their property is a special privilege, the right of
12 supervision, regulation, restriction and control of which is
13 and shall continue to be vested in the State, and such power
14 shall be exercised by the Commission hereby created according
15 to the provisions of this Act and under such rules and
16 regulations as the Commission may prescribe.
17 The Commission shall provide, by serial number or other
18 device to be placed on the face thereof, for the proper and
19 easy identification of such stocks, stock certificates,
20 bonds, notes and other evidences of indebtedness as may be
21 issued by public utilities under the provisions of this
22 article.
23 (Source: P.A. 84-617.)