A public utility may not, directly or indirectly, issue or cause to be issued any stock or bond, note or other evidence of indebtedness, in nonconformity with the order of the Public Utility Commission authorizing the same or contrary to the provisions of ORS 757.400 to 757.463, or of the Constitution of this state, or apply the proceeds from the sale thereof, or any part thereof, to any purpose other than the purposes specified in the commissions order, or to any purpose specified in the commissions order in excess of the amount in the order authorized for such purpose. [Amended by 2023 c.529 11]
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