South Carolina Code 58-27-1340. Determination of just compensation for purchase of electrical utility
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Terms Used In South Carolina Code 58-27-1340
- commission: means the Public Service Commission of this State. See South Carolina Code 58-27-10
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- 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
When the commission has been notified that a city or town has expressed its desire and purpose to purchase the property of the electrical utility operated under the indeterminate permit in the city or town and has also been notified that the parties to the purchase and sale are unable to agree upon the amount to be paid and received therefor, the commission must, after not less than thirty days’ notice to the Office of Regulatory Staff, the city or town, and to the electrical utility, as well as to all of its mortgagees and lienors appearing of record in the county in which the city or town is situated, hold a public hearing upon the matter of just compensation, including severance damages if any, to be paid for the taking of the property by the city or town. Within a reasonable time after the public hearing, the commission must by order fix and determine and certify to the clerk of the city or town, to the electrical utility, and to any bondholder, mortgagee, lienor, or other interested party who has entered an appearance in the proceeding the just compensation, including the damages, if any. The order of the commission may be reviewed as provided in this chapter for the review of other orders of the commission. The commission must not be a party to an action for review.