{"data":{"id":"us-ok/okla.-stat.-tit.-17-17-184","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 17, § 17-184","heading":"Purposes for which securities may be issued - Issuance of","body":"short term securities - Foreign public utilities.\n\n(1) A public utility organized under laws of this state may,\n\nwhen authorized by order of the Commission, and not otherwise, issue\n\nsecurities when necessary for the acquisition of property, the\n\nconstruction, extension or improvement of its facilities, or the\n\nimprovement of its service, or for the discharge or lawful refunding\n\nof its obligations, or reimbursement of moneys actually expended\n\nfrom income from any source, or for any other corporate purpose\n\nauthorized by the Commission. Such public utility may issue\n\nsecurities for proper corporation purposes payable at periods of not\n\nmore than twelve (12) months, without the consent of the Commission;\n\nbut no such note, in whole or in part, shall be refunded by any\n\nissue of securities, with maturity date later than twelve (12)\n\nmonths from date of issue, without the consent of the Commission.\n\n(2) A public utility organized under the laws of another state\n\nor foreign country may, when authorized by order of the Commission\n\nand not otherwise, create liens on property in this state to secure\n\nevidences of indebtedness when the issuance of such evidences of\n\nindebtedness is necessary for the acquisition of property, the\n\nconstruction, extension or improvement of its facilities, or\n\nimproving of its service, or for the discharge or lawful refunding\n\nof its obligations or reimbursement of moneys actually expended from\n\nincome from any source or for any other corporate purpose authorized\n\nby the Commission. The order of the Commission shall fix the amount\n\nof evidences of indebtedness secured by such lien or liens and the\n\npurposes for which such evidences of indebtedness or their proceeds\n\nare to be applied. No such public utility shall, without the\n\nconsent of the Commission, apply such evidences of indebtedness or\n\ntheir proceeds to any purpose not specified in the order.","path":["OK Code","Title 17"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os17.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9cd1c0d585763213e50df86eec9271fbd5e059c8d3f6390373101fecaf1218a0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-17-17-183","next":"us-ok/okla.-stat.-tit.-17-17-185"},"notice":"GroundRules: Original legal text. Not legal advice."}