Iowa Code 478.8 – Valuation of franchise
Current as of: 2024 | Check for updates
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Terms Used In Iowa Code 478.8
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: means an individual, partnership, firm, corporation, or association. See Iowa Code 462A.2
- property: includes personal and real property. See Iowa Code 4.1
No financial consideration shall be charged for such franchise. In fixing the value for rate-making purposes of the property of any person, company, or corporation owning it or operating under it no account shall be taken of, and no increased value shall be allowed for, any such franchise, except that the reasonable cost to the petitioners of obtaining said franchise may be included in the cost of constructing said line.