Section 10
SEC. 10. In case the grantee shall sell, convey, assign, or give in usufruct this franchise to any corporation, association, or company, said assignee shall be forbidden to issue stock or bonds under this franchise except in exchange for actual cash or for property at a fair valuation equal to the par value of the stock or bonds issued and upon prior authority of the Public Service Commission. Nor shall said corporation, association or company declare any stock or bond dividend.