Securities issued or liens created by any public utility, for the issuance or creation of which a certificate should have been, but through excusable neglect or mistake was not, applied for, may be validated by the Commission upon application of such public utility, signed and verified by the president or vice-president and setting forth the information required by Section 5, and in addition thereto a concise statement of the reasons why such application was not made at the time such securities were issued or lien created. If the Commission shall find and determine that such failure to make application was due to excusable neglect or mistake, and was not occasioned by any design to evade compliance with the law, and that such issue or creation was otherwise in accordance with law, the Commission shall issue to the corporation a validating certificate.
Laws 1947, p. 83, § 6.
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