No unincorporated person or partnership, being a public utility through the ownership, operation or management of property devoted to public use, shall be required to apply to the commission for authority to issue notes or bonds unless the same are to be secured by mortgage of the property so devoted to public use.
Source. 1913, 145:14. 1917, 76:6. PL 241:11. RL 291:12. 1951, 203:45 par. 10, eff. Sept. 1, 1951.