56-55 - Definitions. - Virginia Statutes

§ 56-55. Definitions.

The term "public service company" when used in this chapter shall meanevery person, firm, corporation or association, or their lessees, trustees orreceivers, other than a municipal corporation, now or hereafter engaged inbusiness in this Commonwealth as a public utility and subject to regulationas to rates and service by the State Corporation Commission under theprovisions of Chapter 10 (§ 56-232 et seq.) of this title; however, the termshall not include and the provisions of this chapter shall not be deemed torefer to common carrier railroad companies, the issuance of the stocks andsecurities of which are under regulation by the Interstate CommerceCommission.

The term "total capitalization" as used in § 56-65.1 shall mean totalcommon stockholders' equity (common stock, additional paid-in capital andretained earnings), preferred stock, and total debt (long- and short-termdebt) as shown on the utility's books.

The terms "securities" and "loan" as used in §§ 56-68 and 56-75 shallinclude every obligation, written or otherwise, the issuance of, or entryinto, which is required to be approved or validated by this chapter.

(1934, p. 221; Michie Code 1942, §§ 4073(1), 4073(16); 1984, c. 721; 1987, c.479.)