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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>370723</law_id><section_number>56-70</section_number><catch_line>Accounting for disposition of proceeds of issue of securities</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="121" identifier="56">Public Service Companies</unit><unit label="chapter" level="2" order_by="4" identifier="3">Issuance of Stocks, Bonds, Etc.</unit></structure><text>
						<section><p>The <span class="dictionary">Commission</span> shall have the power to require public service companies to account for the <span class="dictionary">disposition</span> of the proceeds of all sales of stocks and stock certificates or other <span class="dictionary">evidences</span> of interest or ownership, and <span class="dictionary">bonds</span>, notes, and other <span class="dictionary">evidences</span> of indebtedness, in such form and detail as it may deem advisable, and to establish such rules and regulations as it may deem reasonable and necessary to insure the <span class="dictionary">disposition</span> of such proceeds for the purpose or purposes specified in its <span class="dictionary">order</span>.</p></section></text><history>1934, p. 224; Michie Code 1942, &#xA7; 4073(9).</history><metadata></metadata></law>
