Virginia § 56-69 - Purposes to which proceeds of security issues may be applied
Full text of Virginia Code of Virginia § 56-69 — Purposes to which proceeds of security issues may be applied, with citation guidance and answers to common questions.
§ 56-69. Purposes to which proceeds of security issues may be applied
No public service company shall, without the consent of the Commission, apply the proceeds of the issue of any stock or stock certificate or other evidence of interest or ownership, or bond, note or other evidence of indebtedness, or any part thereof, to any purpose not specified in the Commission's order, or to any purpose specified in the Commission's order in excess of the amount authorized for such purpose, or issue or dispose of the same on any terms less favorable than those specified in such order or any modification thereof.
1934, p. 223; Michie Code 1942, § 4073(6).
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 56-69
What does Code of Virginia § 56-69 cover?
Section 56-69 ("Purposes to which proceeds of security issues may be applied") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 56-69?
A common citation format is "Code of Virginia § 56-69" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 56-69 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.