South Carolina Code 58-5-50. Exemption of certain term contracts from declaration of unreasonableness by Commission
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Terms Used In South Carolina Code 58-5-50
- Contract: A legal written agreement that becomes binding when signed.
- 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.
Nothing contained in Articles 1, 3 and 5 of this chapter shall authorize the Commission to declare any rate, toll, charge or fare contained in any contract voluntarily entered into prior to March 24, 1922 for a term of years by and between any public utility and any person or corporation, whether public, private or municipal, for the sale and purchase of gas, or other commodity, the subject of such contract, to be unreasonable and noncompensatory without the consent of both parties to such contract.