ยง 107. Approval of the use of revenues. 1. Except with the consent and
approval of the commission first had and obtained, no public utility
shall use revenues received from the rendition of public service within
the state for any purpose other than its operating, maintenance and
depreciation expenses, the construction, extension, improvement or
maintenance of its facilities and service, the payment of its
indebtedness and interest thereon, and the payment of dividends to its
stockholders.
2. Notwithstanding subdivision one of this section, such consent and
approval requested by a telephone corporation shall be deemed granted by
the commission ninety days after the corporation applies to the
commission for such consent and approval, unless the commission, or its
designee, determines within such ninety day period that the public
interest requires the commission's review and written consent.
Structure New York Laws
107 - Approval of the Use of Revenues.
109 - Appearances of Municipal Corporations.
110 - Control of Holding Companies and of Transactions Between Affiliated Interests.
111 - Additional Information in Annual Reports; Disclosure of Stockholdings.
111-A - Additional Information in Annual Reports; Disclosure of Compensation.
112 - Judicial Enforcement of Rate-Fixing Orders of the Commission.
112-A - Appointment of Temporary Operator.
113 - Reparations and Refunds.
114-A - Rates Not to Include Cost of Legislative Lobbying.
115 - Public Letting of Contracts.
116 - Discontinuance of Water Service to Multiple Dwellings.
118 - Payment to an Authorized Payment Agency.
119 - Reorganization of Public Utility Corporations Under the National Bankruptcy Act.
119-A - Attachments to Utility Poles; Use of Utility Ducts, Trenches and Conduits.