§ 39-1-32 Emergency powers of commission.
(a) Any general or public law notwithstanding, the commission, when it determines that public safety so requires, or that failure to act immediately will result in irreparable injury to the public interest, or that an emergency exists in the financial affairs of a public utility which, if not met immediately, will interfere with the accommodations, convenience, and welfare of the people, may issue an order effective immediately, but for temporary duration, until formal notice be given and a hearing had of the parties in interest.
(b) The superior court, upon the filing of a complaint sworn to by two (2) or more commissioners setting forth that a public utility has ceased, or that there is imminent danger of a public utility ceasing to provide service to its customers, and that in their opinion public safety requires that immediate action be taken to avoid irreparable injury to the public welfare or safety, shall forthwith issue a citation to the company to be served in such manner as the court shall direct, commanding the company to appear before the court on a day and in a place to be mentioned in the citation, then and there to show cause, if any it has, why a receiver of the company with all the powers and rights of a receiver in equity should not be appointed. Within a time to be fixed by the court, the receiver so appointed shall propose a plan for reorganization of the company, which plan shall be fair and equitable to all creditors and stockholders of the company, and protect the welfare and safety of the public. Upon the filing of the plan the court shall order a hearing on the plan at such time and subject to such notice as may be provided in the order. At the hearing the court shall enter such decree as may be appropriate.
(P.L. 1969, ch. 240, § 1.)