§ 102 - Petition; hearing; certificate - Vermont Statutes

§ 102. Petition; hearing; certificate

(a) Before the articles of incorporation are transmitted to the secretary of state, the incorporators shall petition the public service board to determine whether the establishment and maintenance of such corporation will promote the general good of the state and shall at that time file a copy of any such petition with the department. The department, within 12 days, shall review the petition and file a recommendation regarding the petition in the same manner as is set forth in subsection 225(b) of this title. Such recommendation shall set forth reasons why the petition shall be accepted without hearing or shall request that a hearing on the petition be scheduled. If the department requests a hearing on the petition, or, if the board deems a hearing necessary, it shall appoint a time and place in the county where the proposed corporation is to have its principal office for hearing the petition, and shall make an order for the publication of the substance thereof and of the time and place of hearing two weeks successively in a newspaper of general circulation in the county to be served by the corporation, the last publication to be at least 12 days before the day appointed for the hearing. The department of public service, through the director for public advocacy, shall represent the public at the hearing.

(b) If the board finds that the establishment and maintenance of the proposed corporation will promote the general good of the state, it shall give the incorporators a certificate to that effect under its seal.

(c) For good cause, after an opportunity for hearing, the board may amend or revoke any certificate awarded under the provisions of this section. If any such certificate is revoked, the corporation shall no longer have authority to conduct any business which is subject to the jurisdiction of the board whether or not regulation thereunder has been reduced or suspended under sections 226a or 227a of this title. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1979, No. 204 (Adj. Sess.), § 19, eff. Feb. 1, 1981; 1987, No. 87, § 4; 1995, No. 99 (Adj. Sess.), § 2.)