§269-18  Acquirement of stock of another
public utility.  No public utility corporation shall purchase or acquire,
take or hold, any part of the capital stock of any other public utility
corporation, organized or existing under or by virtue of the laws of the State,
without having been first authorized to do so by the order of the public
utilities commission.  Every assignment, transfer, contract, or agreement for
assignment or transfer of any stock by or through any person or corporation to
any corporation or otherwise in violation of this section shall be void and of
no effect; and no such transfer shall be made on the books of any public
utility.  Nothing herein shall be construed to make illegal the holding of
stock lawfully acquired before July 1, 1933. [L 1933, c 169, pt of §4; RL
1935, §7956; RL 1945, §4717; RL 1955, §104-17; HRS §269-18]



 



Case Notes



 



  State-federal jurisdiction over interisland air transportation. 
235 F. Supp. 990; 47 H. 1, 87, 384 P.2d 536.