§ 125-11. Continuing bond or surety for public utility corporation.  


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  • In case of a public utility corporation, the Board of Trustees may, in lieu of the foregoing deposit, accept the continuing bond or undertaking of a surety company approved by the Board of Trustees, in an amount fixed by the Board of Trustees, which bond or undertaking shall provide for the application thereof in the same manner as hereinbefore provided in the case of the deposit.