§269-18  Acquirement of stock of anotherpublic utility.  No public utility corporation shall purchase or acquire,take or hold, any part of the capital stock of any other public utilitycorporation, 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 publicutilities commission.  Every assignment, transfer, contract, or agreement forassignment or transfer of any stock by or through any person or corporation toany corporation or otherwise in violation of this section shall be void and ofno effect; and no such transfer shall be made on the books of any publicutility.  Nothing herein shall be construed to make illegal the holding ofstock lawfully acquired before July 1, 1933. [L 1933, c 169, pt of §4; RL1935, §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.