62-160. Permission to pledge assets. No public utility shall pledge its faith, credit, moneys or property for the benefit of any holder of its preferred or common stocks or bonds, nor for any other business interest with which it may be affiliated through agents or holding companies or otherwise by the authority of the action […]
62-161. Assumption of certain liabilities and obligations to be approved by Commission; refinancing of public utility securities. (a) No public utility shall issue any securities, or assume any liability or obligation as lessor, lessee, guarantor, indorser, surety, or otherwise, in respect to the securities of any other person unless and until, and then only to […]
62-162. Commission may approve in whole or in part or refuse approval. The Commission, by its order, may grant or deny the application provided for in the preceding section [G.S. 62-161] as made, or may grant it in part or deny it in part or may grant it with such modification and upon such terms […]
62-163. Contents of application for permission. Every application for authority for such issue or assumption shall be made in such form and contain such matters as the Commission may prescribe. Every such application and every certificate of notification hereinafter provided for shall be made under oath, signed and filed on behalf of the public utility […]
62-164. Applications to receive immediate attention; continuances. All applications for the issuance of securities or assumption of liability or obligation shall be placed at the head of the Commission’s docket and disposed of promptly, and all such applications shall be disposed of in 30 days after the same are filed with the Commission, unless it […]
62-165. Notifying Commission as to disposition of securities. Whenever any securities set forth and described in any such application for authority or certificate of notification as pledged or held unencumbered in the treasury of the utility shall, subsequent to the filing of such application or certificate, be sold, pledged, repledged, or otherwise disposed of, by […]
62-166. No guarantee on part of State. Nothing herein shall be construed to imply any guarantee or obligation as to such securities on the part of the State of North Carolina. (1933, c. 307, s. 23; 1963, c. 1165, s. 1.)
62-167. Article not applicable to note issues and renewals; notice to Commission. The provisions of the foregoing sections shall not apply to notes issued by a utility for proper purposes and not in violation of law, payable at a period of not more than two years from the date thereof, and shall not apply to […]
62-168. Not applicable to debentures of court receivers. Nothing contained in this Article shall limit the power of any court having jurisdiction to authorize or cause receiver’s certificates or debentures to be issued according to the rules and practice obtained in receivership proceedings in courts of equity. (1933, c. 307, s. 25; 1963, c. 1165, […]
62-169. Periodical or special reports. The Commission shall require periodical or special reports from each public utility issuing any security, including such notes payable at periods of not more than two years from the date thereof, which shall show, in such detail as the Commission may require, the disposition made of such securities and the […]
62-170. Failure to obtain approval not to invalidate securities or obligations; noncompliance with Article, etc. (a) Securities issued and obligations and liabilities assumed by a public utility, for which the authorization of the Commission is required, shall not be invalidated because issued or assumed without such authorization therefor having first been obtained or because issued […]
62-171. Commission may act jointly with agency of another state where public utility operates. If a commission or other agency or agencies is empowered by another state to regulate and control the amount and character of securities to be issued by any public utility within such other state, then the Utilities Commission of the State […]
62-172. Financing for certain storm recovery costs. (a) Definitions. – The following definitions apply in this section: (1) Ancillary agreement. – A bond, insurance policy, letter of credit, reserve account, surety bond, interest rate lock or swap arrangement, hedging arrangement, liquidity or credit support arrangement, or other financial arrangement entered into in connection with storm […]
