77-5-503 - Competition with proposed system barred for twelve months after filing of notice of federal loan agreement. - Mississippi Statutes

§ 77-5-503. Competition with proposed system barred for twelve months after filing of notice of federal loan agreement.
 

In the event that the filing corporation within the six months period provided for in Section 77-5-501 shall enter into any loan agreement with any federal agency for the financing of its proposed electric system, and shall file a written notice thereof with the authority, together with a copy of said loan agreement, no such electric utility, power and light company, person or corporation after receipt of notice of such loan agreement shall begin the construction of any electric distribution lines within said area or areas or solicit customers for electric service therein until after the expiration of twelve (12) months from the date of filing said notice of said loan agreement. 
 

Sources: Codes, 1942, § 5492; Laws,  1938, Ex. ch. 77.