66-1826 Payment of dividends; limitation. - Nebraska Statutes

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Statutes > Nebraska > Chapter66 > 66-1826

66-1826. Payment of dividends; limitation.If the commission determines on complaint or upon its own initiative, and after hearing on due notice in accordance with rules and regulations adopted and promulgated pursuant to section 75-110, that the payment of any dividend by a jurisdictional utility will impair the financial condition of such company so that such utility cannot maintain its property in a safe operating condition and render adequate service to its ratepayers, the commission shall enter an order prohibiting the payment of such dividends until such time as such company has shown to the commission that the conditions upon which such order was based have ceased to exist. SourceLaws 2003, LB 790, § 26.

State Codes and Statutes

Statutes > Nebraska > Chapter66 > 66-1826

66-1826. Payment of dividends; limitation.If the commission determines on complaint or upon its own initiative, and after hearing on due notice in accordance with rules and regulations adopted and promulgated pursuant to section 75-110, that the payment of any dividend by a jurisdictional utility will impair the financial condition of such company so that such utility cannot maintain its property in a safe operating condition and render adequate service to its ratepayers, the commission shall enter an order prohibiting the payment of such dividends until such time as such company has shown to the commission that the conditions upon which such order was based have ceased to exist. SourceLaws 2003, LB 790, § 26.

State Codes and Statutes

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State Codes and Statutes

Statutes > Nebraska > Chapter66 > 66-1826

66-1826. Payment of dividends; limitation.If the commission determines on complaint or upon its own initiative, and after hearing on due notice in accordance with rules and regulations adopted and promulgated pursuant to section 75-110, that the payment of any dividend by a jurisdictional utility will impair the financial condition of such company so that such utility cannot maintain its property in a safe operating condition and render adequate service to its ratepayers, the commission shall enter an order prohibiting the payment of such dividends until such time as such company has shown to the commission that the conditions upon which such order was based have ceased to exist. SourceLaws 2003, LB 790, § 26.