709.040 - Length of franchise; annual affidavit of gross receipts and expenditures filed with county recorder; acceptance of provisions of NRS 709.010 - Nevada Statutes

709.040  Length of franchise; annual affidavit of gross receipts and expenditures filed with county recorder; acceptance of provisions of NRS 709.010 to 709.040, inclusive.

      1.  The franchise and privilege granted by NRS 709.010 to 709.040, inclusive, shall continue for a period of 25 years from and after the date of the filing of the notice of intention and agreement as required by chapter 25, Statutes of Nevada 1901, or from and after the receipt of such formal permit or franchise, or from and after compliance with the procedure authorized by chapter 190, Statutes of Nevada 1907.

      2.  Such person, company, association or corporation shall file annually with the county recorder an affidavit showing the gross receipts and expenditures derived from and expended in the furnishing of such electric light, heat and power.

      3.  No person or persons, company or corporations shall be entitled to any of the benefits or be included within the provisions of NRS 709.010 to 709.040, inclusive, unless and until such person or persons, company or corporation shall, within 90 days after March 20, 1909, file in the Office of the Secretary of State and in the office of the county recorder of the county in which such person or persons, company or corporation maintains its principal office or place of business a duly executed and acknowledged acceptance of the terms, conditions and provisions of NRS 709.010 to 709.040, inclusive, which acceptance, in the case of a corporation, shall be evidence by a duly attested or certified copy of a resolution of its board of directors.

      [4:132:1909; RL § 1264; NCL § 6166]