54-4-26 - Contracts calling for expenditures -- Commission to approve. - Utah Statutes

54-4-26. Contracts calling for expenditures -- Commission to approve.
Every public utility when ordered by the commission shall, before entering into anycontract for construction work or for the purchase of new facilities or with respect to any otherexpenditures, submit such proposed contract, purchase or other expenditure to the commission forits approval; and, if the commission finds that any such proposed contract, purchase or otherexpenditure diverts, directly or indirectly, the funds of such public utility to any of its officers orstockholders or to any corporation in which they are interested, or is not proposed in good faithfor the economic benefit of such public utility, the commission shall withhold its approval of suchcontract, purchase or other expenditure, and may order other contracts, purchases or expendituresin lieu thereof for the legitimate purposes and economic welfare of such public utility.

No Change Since 1953