56-484.7:4 - Revocation of Commission approval - Virginia Statutes

§ 56-484.7:4. Revocation of Commission approval.

The Commission may revoke its approval of a petition under § 56-484.7:1 noearlier than five years after such approval if it finds (i) that the factorsdescribed in § 56-484.7:2 on which the approval was based no longer exist orare no longer being satisfied, or (ii) that the petitioner has not madesatisfactory progress toward making generally available the qualifyingcommunications services specified in the petition. If the Commission findsthat such approval should be revoked, it shall determine a date by which thecounty, city, town, electric commission or board, or authority shall cease tooffer such qualifying communications services. In determining such date theCommission shall allow a reasonable time for the entity to offer itsequipment, infrastructure and other assets related to such qualifyingcommunications services for sale at fair market value, which shall be deemedto be no less than the amount of the indebtedness, for such equipment,infrastructure and other assets related to such qualifying communicationsservices. The provisions of this section shall not apply to the use oftelecommunications equipment and services for intragovernmental purposes asspecified in § 15.2-1500.

(2002, cc. 479, 489; 2003, c. 711.)