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2010 Pennsylvania Code
Title 66 - PUBLIC UTILITIES
Chapter 19 - Securities and Obligations
1904 - Unauthorized securities may be declared void.

     § 1904.  Unauthorized securities may be declared void.
        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.

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