North Carolina General Statutes 62-51. To inspect books and records of corporations affiliated with public utilities
Terms Used In North Carolina General Statutes 62-51
- Commission: means the North Carolina Utilities Commission. See North Carolina General Statutes 62-3
- 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.
- Franchise: means the grant of authority by the Commission to any person to engage in business as a public utility, whether or not exclusive or shared with others or restricted as to terms and conditions and whether described by area or territory or not, and includes certificates, and all other forms of licenses or orders and decisions granting such authority. See North Carolina General Statutes 62-3
- public utility: except as otherwise expressly provided in this Chapter, shall not include the following:
- Service: means any service furnished by a public utility, including any commodity furnished as a part of such service and any ancillary service or facility used in connection with such service. See North Carolina General Statutes 62-3
- State: means the State of North Carolina; "state" means any state. See North Carolina General Statutes 62-3
Members of the Commission, Commission staff, and Public Staff are hereby authorized to inspect the books and records of corporations affiliated with public utilities regulated by the Utilities Commission under the provisions of this Chapter, including parent corporations and subsidiaries of parent corporations. This authorization shall extend to all reasonably necessary inspection of all books and records of account and agreements and transactions between public utilities doing business in North Carolina and their affiliated corporations where such records relate either directly or indirectly to the provision of intrastate service by the utility. The right to inspect such books and records shall apply both to books and records in the State of North Carolina and such books and records located outside of the State of North Carolina. If any such affiliated corporation shall refuse to permit such inspection of its books and records and its transactions with public utilities doing business in North Carolina, the Utilities Commission is empowered to order the public utility regulated in North Carolina to show cause why it should not secure from its affiliated corporation such books and records for inspection in North Carolina or why their franchise to operate as a public utility in North Carolina should not be cancelled. (1969, c. 764, s. 1; 1977, c. 468, s. 12; 2021-23, s. 24.)