South Carolina Code 58-27-430. Exchange of old limited permit or franchise for indeterminate permit
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Terms Used In South Carolina Code 58-27-430
- commission: means the Public Service Commission of this State. See South Carolina Code 58-27-10
- electrical utility: includes municipalities to the extent of their business, property, rates, transactions, and operations without the corporate limits of the municipality, persons and corporations, their lessees, assignees, trustees, receivers, or other successors in interest owning or operating in this State equipment or facilities for generating, transmitting, delivering, or furnishing electricity for street, railway, or other public uses or for the production of light, heat, or power to or for the public for compensation; but it shall not include an electric cooperative or a consolidated political subdivision and shall not include a person, corporation, or municipality furnishing electricity only to himself or itself, their residents, employees, or tenants when such current is not resold or used by others. See South Carolina Code 58-27-10
- municipality: includes a city, town, county, township, or any other corporation existing, created, or organized as a governmental unit under the Constitution or laws of this State except a consolidated political subdivision. See South Carolina Code 58-27-10
- public: means the public generally or any limited portion of the public, including a person, corporation, or municipality. See South Carolina Code 58-27-10
- regulatory staff: means the executive director or the executive director and the employees of the Office of Regulatory Staff. See South Carolina Code 58-27-10
Any electrical utility operating under an existing permit or franchise heretofore granted by the State or any municipality thereof prescribing a definite period of years for the existence of such permit or franchise shall, upon (a) filing with the commission and providing to the Office of Regulatory Staff a written declaration that it surrenders such permit or franchise, (b) the consent of such municipality, and (c) proof of any consent that may be required by Article VIII, Section 15 of the Constitution of this State, receive an indeterminate permit which shall take the place of the surrendered permit or franchise, and such electrical utility or its successors or assigns shall hold such permit in accordance with the terms, conditions, and limitations of this chapter and any future regulatory acts. If, for any reason, any indeterminate permit held by a public utility is held to be invalid, the public utility shall, by operation of law and without further act, have reinstated in it any franchise or franchises surrendered by it in exchange for such indeterminate permit.