§ 62-153. Contracts of public utilities with certain companies and for services. - North Carolina Statutes

§ 62‑153. Contracts of public utilities with certain companies and for services.

(a)        All public utilities shall file with the Commission copiesof contracts with any affiliated or subsidiary holding, managing, operating,constructing, engineering, financing or purchasing company or agency, and whenrequested by the Commission, copies of contracts with any person sellingservice of any kind. The Commission may disapprove, after hearing, any suchcontract if it is found to be unjust or unreasonable, and made for the purposeor with the effect of concealing, transferring or dissipating the earnings ofthe public utility. Such contracts so disapproved by the Commission shall bevoid and shall not be carried out by the public utility which is a partythereto, nor shall any payments be made thereunder. Provided, however, that inthe case of motor carriers of passengers this subsection shall apply only tosuch contracts as the Commission shall request such carriers to file.

(b)        No public utility shall pay any fees, commissions orcompensation of any description whatsoever to any affiliated or subsidiaryholding, managing, operating, constructing, engineering, financing orpurchasing company or agency for services rendered or to be rendered withoutfirst filing copies of all proposed agreements and contracts with theCommission and obtaining its approval. Provided, however, that this subsectionshall not apply to motor carriers of passengers. (1931, c. 455; 1933, c. 134, s. 8; c. 307, s. 17;1941, c. 97; 1963, c. 1165, s. 1.)