Public Utilities and Carriers

Ownership of Electric Generating Facilities

SECTION 39-20-10

§ 39-20-10 Issuance of securities to finance electric generating facilities.

(a) The purposes for which a domestic public utility may issue stocks, bonds, or other evidences of indebtedness, payable more than twelve (12) months from date of issue, pursuant to §§ 39-3-15, 39-3-17 – 39-3-19, and 39-3-21 shall include the acquisition of ownership of, or other interests in, electric generating facilities, within or without this state, or portions thereof.

(b) Notwithstanding the provisions of § 39-3-20, any foreign electric utility, other than a governmental entity, which owns and operates any electric generating facilities within this state or portions thereof shall be subject to the provisions of §§ 39-3-15, 39-3-17 – 39-3-19, and § 39-3-21 and other regulatory laws within the state with respect to any financing of the cost of its acquisition of ownership of or other interests in the electric generating facilities, including the issuance of stocks, bonds, or other evidences of indebtedness payable more than twelve (12) months from the date of issue; provided, however, that it shall be exempt from the provisions of this subsection upon the filing with the commission of certification by a regulatory commission of the state of domicile or principal locus of the foreign electric utility, or of the United States, that the regulatory commission has regulatory jurisdiction over the financing of the foreign electric utility.

History of Section.
(P.L. 1975, ch. 215, § 1.)