Sec. 16-43a. Validity of securities issued pursuant to order of department. - Connecticut Statutes

      Sec. 16-43a. Validity of securities issued pursuant to order of department. Any stock, notes, bonds or other evidences of indebtedness or securities of any nature issued or sold pursuant to or in reliance on and in accordance with any order, authorization or decision of the Department of Public Utility Control pursuant to this title shall be valid and binding in accordance with their terms notwithstanding such order, authorization or decision of the department is later vacated, modified, or otherwise held to be wholly or partly invalid, unless operation of such order, authorization or decision of the department has been stayed or suspended by the department or the reviewing court prior to such issuance.

      (P.A. 78-100; 78-303, S. 85, 136; P.A. 80-482, S. 76, 348.)

      History: P.A. 78-303 allowed substitution of division of public utility control within the department of business regulation for public utilities control authority to comply with provisions of P.A. 77-614; P.A. 80-482 made division of public utility control an independent department and deleted reference to abolished department of business regulation.