CODE OF VIRGINIA

PROCEDURE FOR AUTHORITY TO ACQUIRE OR DISPOSE OF UTILITY ASSETS OR SECURITIES
(§ 56-90)

Application for authority to acquire or dispose of utility assets or utility
securities under § 56-89 shall be by petition to the Commission. The petition
may be joint or several. It shall be signed and verified by the president or any
vice-president and the secretary or any assistant secretary of the petitioner.
The petition shall clearly summarize the object in view, the proposed procedure
and the terms and conditions thereof. Upon the filing of the petition, if the
Commission shall deem a hearing necessary, the Commission shall assign the
matter for prompt hearing. If and when the Commission, with or without hearing,
shall be satisfied that adequate service to the public at just and reasonable
rates will not be impaired or jeopardized by granting the prayer of the
petition, the Commission shall make such order in the premises as it may deem
proper and the circumstances require, and thereupon it shall be lawful to do the
things provided for in such order, subject, however, to the exception contained
in § 56-89 as to counties and municipalities.

HISTORY: 1940, p. 426; Michie Code 1942, § 3774o.