56-62 - Joint action with commission of another state. - Virginia Statutes

§ 56-62. Joint action with commission of another state.

If a commission or other agency or agencies is empowered by another state toregulate and control the amount and character of securities to be issued byany public service company within such other state, then the Commission shallhave the power to agree with such other commission or other agency oragencies of such other state on the issuance of stocks or stock certificatesor other evidences of interest or ownership, and bonds, notes or otherevidences of indebtedness by a public service company owning or operating apublic utility both in such state and in this Commonwealth, and shall havethe power to approve such issue jointly with such commission or other agencyor agencies and to issue a joint certificate of such approval; provided,however, that no such joint approval shall be required in order to expressthe consent to and approval of such issue by the Commonwealth of Virginia ifsuch issue is separately approved by the Commission.

(1934, p. 223; Michie Code 1942, § 4073(5).)