40-222. Depreciation accounting
The commission may, after hearing, require public service corporations to carry a
proper and adequate depreciation account in accordance with regulations and forms of
account it prescribes. It may ascertain and fix the proper and adequate rates of
depreciation of the several classes of property for each, and each corporation shall
conform its depreciation accounts to the rates so ascertained and fixed, and shall set
aside the money so provided for out of earnings and carry such money in a depreciation
fund and expend the fund, and the income therefrom, only for the purposes and under rules
and regulations, both as to original expenditure and subsequent replacement, as the
commission prescribes.
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