Indiana Code 8-1-2-79. Securities; issuance; approval; fraud; offense
(1) the principal amount of bonds, notes, or other evidences of indebtedness, and the par value or number of shares of preferred and common stock;
Attorney's Note
Under the Indiana Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Level 6 felony | between 6 mos. and 2 1/2 years | up to $10,000 |
Terms Used In Indiana Code 8-1-2-79
- Commission: as used in this chapter , means the commission created by IC 8-1-1-2. See Indiana Code 8-1-2-1
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- public utility: as used in this chapter , means every corporation, company, partnership, limited liability company, individual, association of individuals, their lessees, trustees, or receivers appointed by a court, that may own, operate, manage, or control any plant or equipment within the state for the:
Indiana Code 8-1-2-1
- Utility: as used in this chapter , means every plant or equipment within the state used for:
Indiana Code 8-1-2-1
- Verified: when applied to pleadings, means supported by oath or affirmation in writing. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(3) the purposes for which said securities are to be disposed of or sold;
(4) the description, cost, or value of any property acquired or to be acquired from the proceeds of the disposal or sale of said securities;
(5) a balance sheet and income account; and
(6) all other information that may be relevant or that may be required by the commission.
For the purpose of enabling it to determine whether the proposed issue is in the public interest, in accordance with laws touching the issuance of securities by public utilities, and reasonably necessary in the operation and management of the business of the utility in order that the utility may provide adequate service and facilities, the commission also may consider the total outstanding capitalization of the utility, including the proposed issue, in relation to the total value of or investment in the property of the utility, including the property to be acquired by the proposed issue, as shown by the balance sheet, accounts, or reports of the utility, the records of the commission, or other evidence, and the character and proportionate amount of each kind of security, including the proposed issue, and the unamortized discount suffered by the utility in the sale of the outstanding securities. The commission shall make such further inquiry or investigation, hold such hearing or hearings, and examine such witnesses, books, papers, documents, or contracts as it may deem of importance in enabling it to reach a decision.
(b) An owner, officer, or agent of any public utility who knowingly violates this section, or knowingly makes any material misrepresentation or misstatements in connection with this section, commits a Level 6 felony.
Formerly: Acts 1913, c.76, s.91; Acts 1933, c.190, s.8. As amended by Acts 1978, P.L.2, SEC.801; P.L.158-2013, SEC.130.