§911. Approval of capital leases
No capital lease, entered into by a public utility for a term of more than 3 years, of property having a fair value the greater of $50,000 or 1% of the public utility's total long-term debt is valid without the written approval of the commission. The commission's procedure and standards governing approval shall be similar to those which apply to applications under sections 901 and 902. [PL 1987, c. 141, Pt. A, §6 (NEW).]
SECTION HISTORY
PL 1987, c. 141, §A6 (NEW).
Structure Maine Revised Statutes
Part 1: PUBLIC UTILITIES COMMISSION
Chapter 9: APPROVAL OF STOCKS, BONDS AND NOTES BY PUBLIC UTILITIES COMMISSION
35-A §901. Issuance of stocks, bonds and notes
35-A §902. Commission authorization required
35-A §903. Stocks sold at less than par value
35-A §904. Approval of stocks authorized, but not issued
35-A §905. Validity of securities issued pursuant to order of commission
35-A §906. Commission authorization not required
35-A §907. Municipal or quasi-municipal corporations
35-A §908. Additional requirements as to issuance
35-A §909. Stock for organization purposes
35-A §910. Consent required for change of capital or purposes