Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Approval of the use of revenues
Public Service (PBS) CHAPTER 48, ARTICLE 6
§ 107. Approval of the use of revenues. 1. Except with the consent and
approval of the commission first had and obtained, no public utility
shall use revenues received from the rendition of public service within
the state for any purpose other than its operating, maintenance and
depreciation expenses, the construction, extension, improvement or
maintenance of its facilities and service, the payment of its
indebtedness and interest thereon, and the payment of dividends to its

2. Notwithstanding subdivision one of this section, such consent and
approval requested by a telephone corporation shall be deemed granted by
the commission ninety days after the corporation applies to the
commission for such consent and approval, unless the commission, or its
designee, determines within such ninety day period that the public
interest requires the commission's review and written consent.