§ 39-11-12 Issuance of securities. –Any corporation or association, presently existing, and any which may hereafterbe organized or authorized to do business under the laws of this state, or anylessee, or trustee, or any person or persons owning, conducting, managing,operating, or controlling any air carrier engaged in intrastate commerce, mayissue stocks and bonds, notes, or other evidences of indebtedness, payable atperiods of more than twelve (12) months after the date thereof, only when thereshall have been secured from the administrator an order authorizing the issue.Any person, corporation, or association desiring authority to issue stocks orbonds, notes, or other evidences of indebtedness shall make written applicationtherefor to the administrator in such form as the administrator may require.The administrator shall thereafter make such inquiry or investigation as he orshe may deem necessary, and the administrator may hold such hearings andexamine such witnesses' books, papers, documents, or contracts as he or she maydeem of importance, for the purpose of enabling him or her to reach adetermination. The administrator shall authorize the issuance of the stocks orbonds, notes, or other evidences of indebtedness, if he or she shall be shownthat the funds to be so realized are necessary for the acquisition of property,the construction, completion, extension, or improvement of facilities, or forthe improvement or maintenance of service, or for the discharge or lawfulrefunding of obligations, or for any other proper purpose.
§ 39-11-12 Issuance of securities. –Any corporation or association, presently existing, and any which may hereafterbe organized or authorized to do business under the laws of this state, or anylessee, or trustee, or any person or persons owning, conducting, managing,operating, or controlling any air carrier engaged in intrastate commerce, mayissue stocks and bonds, notes, or other evidences of indebtedness, payable atperiods of more than twelve (12) months after the date thereof, only when thereshall have been secured from the administrator an order authorizing the issue.Any person, corporation, or association desiring authority to issue stocks orbonds, notes, or other evidences of indebtedness shall make written applicationtherefor to the administrator in such form as the administrator may require.The administrator shall thereafter make such inquiry or investigation as he orshe may deem necessary, and the administrator may hold such hearings andexamine such witnesses' books, papers, documents, or contracts as he or she maydeem of importance, for the purpose of enabling him or her to reach adetermination. The administrator shall authorize the issuance of the stocks orbonds, notes, or other evidences of indebtedness, if he or she shall be shownthat the funds to be so realized are necessary for the acquisition of property,the construction, completion, extension, or improvement of facilities, or forthe improvement or maintenance of service, or for the discharge or lawfulrefunding of obligations, or for any other proper purpose.
§ 39-11-12 Issuance of securities. –Any corporation or association, presently existing, and any which may hereafterbe organized or authorized to do business under the laws of this state, or anylessee, or trustee, or any person or persons owning, conducting, managing,operating, or controlling any air carrier engaged in intrastate commerce, mayissue stocks and bonds, notes, or other evidences of indebtedness, payable atperiods of more than twelve (12) months after the date thereof, only when thereshall have been secured from the administrator an order authorizing the issue.Any person, corporation, or association desiring authority to issue stocks orbonds, notes, or other evidences of indebtedness shall make written applicationtherefor to the administrator in such form as the administrator may require.The administrator shall thereafter make such inquiry or investigation as he orshe may deem necessary, and the administrator may hold such hearings andexamine such witnesses' books, papers, documents, or contracts as he or she maydeem of importance, for the purpose of enabling him or her to reach adetermination. The administrator shall authorize the issuance of the stocks orbonds, notes, or other evidences of indebtedness, if he or she shall be shownthat the funds to be so realized are necessary for the acquisition of property,the construction, completion, extension, or improvement of facilities, or forthe improvement or maintenance of service, or for the discharge or lawfulrefunding of obligations, or for any other proper purpose.
