Pennsylvania Code § 66-1904

Unauthorized securities may be declared void.
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In addition to any other penalty provided in this part for any violation of this chapter, the commission, after due consideration of the public interest, may declare void any securities issued, or any assumption of securities made in violation of this chapter. Any such declaration shall not be construed as a bar to the recovery, by an innocent holder-for-value of such securities, of any losses sustained by reason of the wrongful acts of the issuing or assuming public utility.
CHAPTER 21
RELATIONS WITH AFFILIATED INTERESTS
Sec.
2101. Definition of affiliated interest.
2102. Approval of contracts with affiliated interests.
2103. Continuing supervision and jurisdiction over contracts.
2104. Contracts to be in writing; cost data.
2105. Contracts in violation of part void.
2106. Effect on rates.
2107. Federal regulatory agencies.

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