Public utility or railroad corporations may, incident to the sale or pledge of bonds, notes, or other securities owned by them, jointly or severally indorse such securities and guarantee due payment of them, in any case in which such indorsement and guarantee is authorized by the public utilities commission or the interstate commerce commission.
This section does not apply to telephone companies.
Amended by 128th General AssemblyFile No.43, SB 162, §1, eff. 9/13/2010.
Effective Date: 10-01-1953 .