The term "public service company" when used in this chapter shall meanevery person, firm, corporation or association, or their lessees, trustees orreceivers, other than a municipal corporation, now or hereafter engaged inbusiness in this Commonwealth as a public utility and subject to regulationas to rates and service by the State Corporation Commission under theprovisions of Chapter 10 (§ 56-232 et seq.) of this title and, subject to theconditions specified therein, such companies as specified by the Commissionpursuant to subsection C of § 56-77; however, the term shall not include andthe provisions of this chapter shall not be deemed to refer to transportationcompanies subject directly or indirectly to the control of the InterstateCommerce Commission.
The term "affiliated interest" when used in this chapter shall mean andinclude the following:
1. Every corporation, partnership, association, or person owning or holdingdirectly or indirectly ten percent or more of the voting securities of anypublic service company engaged in any intrastate business in thisCommonwealth.
2. Every corporation, partnership, association, or person, other than thosespecified in subdivision 1 hereof, in any chain of successive ownership often percent or more of voting securities, the chain beginning with the holderor holders of the voting securities of such public service company.
3. Every corporation, partnership, association, or person ten percent or moreof whose voting securities are owned by any person, corporation, partnership,or association owning ten percent or more of the voting securities of suchpublic service company or by any person, corporation, association, orpartnership in any such chain of successive ownership of ten percent or moreof voting securities.
4. Every corporation, partnership, association, or person with which suchpublic service company has a management or service contract.
5. Every corporation in which two or more of the corporate directors arecommon to those of such public service company, or which is managed orsupervised by the same individual, group or corporation.
6. Every corporation or person which the Commission may determine as a matterof fact after investigation and hearing is actually exercising anysubstantial influence over the policies and actions of such public servicecompany even though such influence is not based upon stockholding,stockholders, directors or officers to the extent specified in this section.
7. Every person or corporation which the Commission may determine as a matterof fact after investigation and hearing is actually exercising suchsubstantial influence over the policies and action of such public servicecompany in conjunction with one or more other corporations or persons withwhich or whom they are so connected or related by ownership or bloodrelationship or by action in concert that when taken together they areaffiliated with such public service company within the meaning of thissection even though no one of them alone is so affiliated.
But no such person or corporation shall be considered as affiliated withinthe meaning of this section if such person or corporation shall not have hadtransactions or dealings other than the holding of stock and the receipt ofdividends thereon with such public service company during the two-year periodnext preceding.
(1934, p. 743; Michie Code 1942, § 3774(b); 1984, c. 721; 1987, c. 385; 1996,c. 19.)
The term "public service company" when used in this chapter shall meanevery person, firm, corporation or association, or their lessees, trustees orreceivers, other than a municipal corporation, now or hereafter engaged inbusiness in this Commonwealth as a public utility and subject to regulationas to rates and service by the State Corporation Commission under theprovisions of Chapter 10 (§ 56-232 et seq.) of this title and, subject to theconditions specified therein, such companies as specified by the Commissionpursuant to subsection C of § 56-77; however, the term shall not include andthe provisions of this chapter shall not be deemed to refer to transportationcompanies subject directly or indirectly to the control of the InterstateCommerce Commission.
The term "affiliated interest" when used in this chapter shall mean andinclude the following:
1. Every corporation, partnership, association, or person owning or holdingdirectly or indirectly ten percent or more of the voting securities of anypublic service company engaged in any intrastate business in thisCommonwealth.
2. Every corporation, partnership, association, or person, other than thosespecified in subdivision 1 hereof, in any chain of successive ownership often percent or more of voting securities, the chain beginning with the holderor holders of the voting securities of such public service company.
3. Every corporation, partnership, association, or person ten percent or moreof whose voting securities are owned by any person, corporation, partnership,or association owning ten percent or more of the voting securities of suchpublic service company or by any person, corporation, association, orpartnership in any such chain of successive ownership of ten percent or moreof voting securities.
4. Every corporation, partnership, association, or person with which suchpublic service company has a management or service contract.
5. Every corporation in which two or more of the corporate directors arecommon to those of such public service company, or which is managed orsupervised by the same individual, group or corporation.
6. Every corporation or person which the Commission may determine as a matterof fact after investigation and hearing is actually exercising anysubstantial influence over the policies and actions of such public servicecompany even though such influence is not based upon stockholding,stockholders, directors or officers to the extent specified in this section.
7. Every person or corporation which the Commission may determine as a matterof fact after investigation and hearing is actually exercising suchsubstantial influence over the policies and action of such public servicecompany in conjunction with one or more other corporations or persons withwhich or whom they are so connected or related by ownership or bloodrelationship or by action in concert that when taken together they areaffiliated with such public service company within the meaning of thissection even though no one of them alone is so affiliated.
But no such person or corporation shall be considered as affiliated withinthe meaning of this section if such person or corporation shall not have hadtransactions or dealings other than the holding of stock and the receipt ofdividends thereon with such public service company during the two-year periodnext preceding.
(1934, p. 743; Michie Code 1942, § 3774(b); 1984, c. 721; 1987, c. 385; 1996,c. 19.)
The term "public service company" when used in this chapter shall meanevery person, firm, corporation or association, or their lessees, trustees orreceivers, other than a municipal corporation, now or hereafter engaged inbusiness in this Commonwealth as a public utility and subject to regulationas to rates and service by the State Corporation Commission under theprovisions of Chapter 10 (§ 56-232 et seq.) of this title and, subject to theconditions specified therein, such companies as specified by the Commissionpursuant to subsection C of § 56-77; however, the term shall not include andthe provisions of this chapter shall not be deemed to refer to transportationcompanies subject directly or indirectly to the control of the InterstateCommerce Commission.
The term "affiliated interest" when used in this chapter shall mean andinclude the following:
1. Every corporation, partnership, association, or person owning or holdingdirectly or indirectly ten percent or more of the voting securities of anypublic service company engaged in any intrastate business in thisCommonwealth.
2. Every corporation, partnership, association, or person, other than thosespecified in subdivision 1 hereof, in any chain of successive ownership often percent or more of voting securities, the chain beginning with the holderor holders of the voting securities of such public service company.
3. Every corporation, partnership, association, or person ten percent or moreof whose voting securities are owned by any person, corporation, partnership,or association owning ten percent or more of the voting securities of suchpublic service company or by any person, corporation, association, orpartnership in any such chain of successive ownership of ten percent or moreof voting securities.
4. Every corporation, partnership, association, or person with which suchpublic service company has a management or service contract.
5. Every corporation in which two or more of the corporate directors arecommon to those of such public service company, or which is managed orsupervised by the same individual, group or corporation.
6. Every corporation or person which the Commission may determine as a matterof fact after investigation and hearing is actually exercising anysubstantial influence over the policies and actions of such public servicecompany even though such influence is not based upon stockholding,stockholders, directors or officers to the extent specified in this section.
7. Every person or corporation which the Commission may determine as a matterof fact after investigation and hearing is actually exercising suchsubstantial influence over the policies and action of such public servicecompany in conjunction with one or more other corporations or persons withwhich or whom they are so connected or related by ownership or bloodrelationship or by action in concert that when taken together they areaffiliated with such public service company within the meaning of thissection even though no one of them alone is so affiliated.
But no such person or corporation shall be considered as affiliated withinthe meaning of this section if such person or corporation shall not have hadtransactions or dealings other than the holding of stock and the receipt ofdividends thereon with such public service company during the two-year periodnext preceding.
(1934, p. 743; Michie Code 1942, § 3774(b); 1984, c. 721; 1987, c. 385; 1996,c. 19.)
