61-1111. UNAUTHORIZED CONTROLLING INTEREST. It is unlawful, unless such relationship has been authorized by order of the commission:
a. For any air carrier to have and retain an officer or director who is an officer, director, or member, or who as a stockholder holds a controlling interest, in any other common carrier.
b. For any air carrier, knowingly and willingly, to have and retain an officer or director who has a representative or nominee who represents such officer, director or member as an officer, director, or member as a stockholder holding a controlling interest, in any other common carrier.
c. For any person who is an officer or director of an air carrier to hold the position of officer, director or member, or to have a stockholder holding a controlling interest, or to have a representative or nominee who represents such a person as an officer, director, or member, or as a stockholder holding a controlling interest in any common carrier.
History:
[61-1111, added 1969, ch. 197, sec. 11, p. 574.]
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