2013 ORS § 757.445¹
Wrongful issues or use of proceeds by utility

No public utility shall directly or indirectly, issue or cause to be issued any stock or bond, note or other evidence of indebtedness, in nonconformity with the order of the Public Utility Commission authorizing the same or contrary to the provisions of ORS 757.400 (Stocks defined for ORS 757.400 to 757.460) to 757.460 (Pledge of conservation investment assets as bond collateral), or of the Constitution of this state, or apply the proceeds from the sale thereof, or any part thereof, to any purpose other than the purposes specified in the commissions order, or to any purpose specified in the commissions order in excess of the amount in the order authorized for such purpose.