201.15 Securities of telecommunications utilities. - Wisconsin Statutes

201.15

201.15 Securities of telecommunications utilities.

201.15(1)

(1) Definition. In this section, "telecommunications utility" has the meaning given in s. 196.01 (10).

201.15(2)

(2) Notice. A telecommunications utility subject to rate-of-return regulation shall provide the commission with adequate notice of the issuance of any securities not more than 10 business days after the security issuance. The commission shall retain continuing supervisory jurisdiction over the capital structure of any telecommunications utility subject to rate-of-return regulation, necessary to enforce ss. 196.204 and 196.219.

201.15(3)

(3) Capital structure. In a rate case involving a telecommunications utility subject to rate-of-return regulation, the commission may impute an appropriately balanced capital structure if the telecommunications utility has not maintained a reasonably balanced capital structure.

201.15(4)

(4) Dividends.

201.15(4)(a)

(a) If the commission finds that the capital of a telecommunications utility subject to rate regulation, other than a small telecommunications utility, is impaired, the commission may, after investigation and opportunity for hearing, issue an order directing the telecommunications utility to cease paying dividends on its common stock until the impairment is corrected.

201.15(4)(b)

(b) If the commission finds that a small telecommunications utility subject to rate-of-return regulation is an equity-thin utility, as defined in s. 196.215 (1) (am), the commission may, after investigation and opportunity for hearing, issue an order directing the small telecommunications utility to cease paying dividends on its common stock until the small telecommunications utility is no longer an equity-thin utility.

201.15 - ANNOT.

History: 1993 a. 496, 1997 a. 140 s. 17; Stats. 1997 s. 200.15; 1999 a. 150 s. 660; Stats. 1999 s. 201.15.