56-81 - Summary order prohibiting treatment of payments as operating expenses, etc. - Virginia Statutes

§ 56-81. Summary order prohibiting treatment of payments as operatingexpenses, etc.

Whenever the Commission shall find upon investigation (1) that any publicservice company is giving effect to any contract or arrangement of thecharacter described in § 56-77, entered into after March 29, 1934, when suchcontract or arrangement shall not have been filed with the Commission asrequired by this chapter, or (2) that any public service company is makingpayment to an affiliated interest, although such payments have beendisallowed and disapproved by the Commission under this chapter or in aproceeding involving the public service company's rates or practices, theCommission may, in the former case, and shall, in the latter case, issue asummary order prohibiting the public service company from treating anypayments made under the terms of such contract or arrangement or any paymentsso disallowed and disapproved as operating expenses or as capitalexpenditures for rate or valuation purposes, unless and until such paymentsshall have received the approval of the Commission.

(1934, p. 745; Michie Code 1942, §§ 3774g, 3774h.)