56-234.5 - Required disclosure by certain officers and directors of certain utilities. - Virginia Statutes

§ 56-234.5. Required disclosure by certain officers and directors of certainutilities.

If it comes to the attention of any elected officer or director of a publicutility, as defined in § 56-232, that such public utility has, during thepreceding calendar year, let a construction, engineering or equipmentcontract, including any subcontract, of a value in excess of $750,000 to acontractor or subcontractor in which such officer or director, or the spouseof such officer or director living in the same household, owns stocks orbonds or an equity interest, constituting more than five percent of theownership of such contractor or subcontractor or valued at more than $50,000,whichever is less, such officer or director shall file with the Commission,by April 30 of each year, a list of every such contractor or subcontractor.This requirement shall only apply to the elected officer or director of apublic utility that has its rates, tolls, charges, or schedules set by theCommission based on the public utility's cost of providing service.

(1979, c. 9; 2010, c. 581.)