reglab/housing_qa huggingface dataset:
MD. Public Utilities Code Ann. §  6-103 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 1 - Financing|Section 6-103 - Limitations on Capitalization

    (a)    This section applies only to public service companies that operate in Maryland.    (b)    (1)    A public service company may not:            (i)    capitalize or issue bonds against or as lien on a contract for consolidation, merger, or lease; or            (ii)    except as provided in paragraph (2) of this subsection, capitalize a franchise or the right to own a franchise.        (2)    A public service company may capitalize a franchise or right to own a franchise in an amount not exceeding the amount, exclusive of any tax or annual charge, actually paid to the State or a political subdivision as consideration for the grant of the franchise or right.    (c)    The stated capital, as determined under Title 2, Subtitle 3 of the Corporations and Associations Article, of a public service company formed by a merger or consolidation of corporations may not exceed, solely by virtue of the merger or consolidation, the stated capital of the corporations merged or consolidated plus any additional sum paid in cash.    (d)    (1)    This subsection does not apply to the capitalization of a franchise to be a public service company.        (2)    Notwithstanding any other provision of this article, the Commission may approve the capitalization of tangible and intangible property of:            (i)    a newly chartered public service company; or            (ii)    a public service company organized or reorganized by the purchaser of the franchise and property of its predecessor at a sale under judicial proceedings, mortgage, or deed of trust.        (3)    Capitalization under paragraph (2) of this subsection shall be in the amount and form that the Commission considers reasonably necessary to enable the public service company to obtain the capital necessary to establish itself as a going concern.
MD. Public Utilities Code Ann. §  6-104 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 1 - Financing|Section 6-104 - Void Transactions

    Any contract, assignment, transfer, or agreement for transfer or purchase of stock in violation of the provisions of this article is void.
MD. Public Utilities Code Ann. §  6-106 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 1 - Financing|Section 6-106 - Acquisition of Substantial Influence Over Investor-Owned Electric Companies

    (a)    (1)    In this section the following words have the meanings indicated.        (2)    “Affiliate” has the meaning stated in § 7–501 of this article.        (3)    “Investor–owned electric company” means an electric company that is not a municipal electric utility or an electric cooperative.    (b)    For purposes of this section, a person is considered to have acquired, directly or indirectly, the power to exercise substantial influence over the policies or actions of an investor–owned electric company if the person:        (1)    after any acquisition of voting interests, directly or indirectly owns, controls, or has the right to vote, or direct the voting of, at least 20% of the voting interests of the investor–owned electric company or an entity that owns or controls the investor–owned electric company;        (2)    has the right to designate at least 20% of the board of directors or other governing body of the investor–owned electric company or an entity that owns or controls the investor–owned electric company; or        (3)    is found by the Commission, directly or indirectly, or through one or more intermediaries, to have substantial influence over the policies or actions of an investor–owned electric company.    (c)    A person may not acquire, directly or indirectly, the power to exercise substantial influence over the policies or actions of an investor–owned electric company if the person would become an affiliate of each investor–owned electric company in the State as a result of the acquisition.    (d)    The Commission may adopt regulations to implement this section.
MD. Public Utilities Code Ann. §  6-201 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-201 - Definitions

    (a)    In this subtitle the following words have the meanings indicated.    (b)    “Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management or policies of a person.    (c)    “Financing lease” means a lease that, during the noncancelable lease period:        (1)    covers at least 75% of the economic life of the property; or        (2)    has terms that assure the lessor of a full recovery of the fair market value that would normally be represented by the lessor’s investment of the property at the start of the lease and a reasonable return on the use of the assets invested, subject only to limited risk in the realization of the residual interest in the property and the credit risks generally associated with secured loans.    (d)    “Joint venture” means a joint business arrangement between a public service company and another person for mutual benefit, with the understanding that each will share in the profits and losses and have a voice in management.    (e)    “Long-term debt” means a debt due at least 1 year after the date of indebtedness.    (f)    “Parent” means:        (1)    every firm, holding company, or other person that ultimately controls a public service company; or        (2)    any intermediary entity that controls a public service company.    (g)    “Person” includes an individual, corporation, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.    (h)    “Short-term debt” means a debt due within 1 year after the date of indebtedness.    (i)    “SIC code and short title” means a 4-digit industry Standard Industrial Classification code and short title listed in the most recent Standard Industrial Classification manual published by the Office of Management and Budget of the Executive Office of the President.
MD. Public Utilities Code Ann. §  6-202 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-202 - Classification of Public Service Companies

    (a)    The Commission may classify the public service companies under its jurisdiction.    (b)    Two public service companies are of the same class, if they are both:        (1)    common carrier companies;        (2)    electric companies;        (3)    gas companies;        (4)    gas and electric companies;        (5)    sewage disposal companies;        (6)    telegraph companies;        (7)    telephone companies; or        (8)    water companies.
MD. Public Utilities Code Ann. §  6-203 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-203 - Record Keeping Requirements

    The Commission may:         (1)    establish a uniform system of records for each class of public service company; and        (2)    prescribe the manner and form in which a public service company shall keep records and enter particular items.
MD. Public Utilities Code Ann. §  6-204 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-204 - Conformity to Federal Requirements

    The Commission shall prescribe a system, a form of records, and a form of annual report for public service companies that conform as nearly as possible to the system and forms that any corresponding federal regulatory unit requires for public service companies of the same class in interstate commerce.
MD. Public Utilities Code Ann. §  6-205 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-205 - Annual Report; Other Information

    (a)    (1)    This subsection does not apply to railroads.        (2)    Except as provided in subsection (b) of this section, each public service company shall file with the Commission an annual report containing information on its corporate structure, affiliations of its officers and directors, and debt holdings.        (3)    (i)    Notwithstanding any specific reporting requirements in this subtitle, the Commission may prescribe the contents of the annual report to be filed by a public service company whose gross annual revenues for the most recent calendar year for which data are available are less than 0.003% of the total gross annual revenues of all public service companies in the State during the same calendar year.            (ii)    A small rural electric cooperative described in § 7-502(a) of this article may satisfy the reporting requirement by submitting to the Commission a copy of a report including the required information that the small rural electric cooperative submits to the rural utilities service.    (b)    Unless otherwise directed by the Commission, a public service company is not required to comply with subsection (a) of this section if the public service company is:        (1)    a common carrier; or        (2)    a telephone company whose rates are not regulated by the Commission under Title 4 of this article.    (c)    The president, treasurer, or general manager of a public service company shall verify the company’s annual report under oath.    (d)    The Commission may:        (1)    require a public service company to submit reports and information that the Commission reasonably desires;        (2)    prescribe the form, contents, and deadlines for the reports and information; and        (3)    require amendments or corrections to the reports within a set period.
MD. Public Utilities Code Ann. §  6-206 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-206 - Annual Report -- Form and Filing

    (a)    A public service company shall file its annual report with the Commission within the time the Commission sets after the end of the year that the report covers.    (b)    (1)    The Commission shall provide each public service company with a blank form of an annual report in time to allow the public service company to comply with subsection (a) of this section.        (2)    Unless the Commission notifies a public service company of a proposed change at least 6 months before the start of the year for which an annual report is due, the Commission may not change the form of the annual report in a way that requires the public service company to change the manner or form of its record keeping.
MD. Public Utilities Code Ann. §  6-207 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-207 - Annual Report -- Contents -- in General

    In addition to any other information that the Commission requires, the annual report of a public service company shall state:        (1)    the amount and kind of:            (i)    authorized capital stock;            (ii)    capital stock issued and outstanding;            (iii)    authorized bonded indebtedness; and            (iv)    bonds and other evidence of indebtedness issued and outstanding;        (2)    receipts and expenditures for the year reported;        (3)    the amount paid as dividends and interest on bonds or other evidence of indebtedness;        (4)    the amount of salary paid to each officer, by name, and the amount paid as wages to employees;        (5)    the location of the public service company’s plants with a full description of each plant and franchise, stating in detail how each franchise was acquired; and        (6)    when applicable:            (i)    a monthly compilation of expenditures that were the basis for any fuel rate adjustment; and            (ii)    an annual recapitulation of the information required under item (i) of this item.
MD. Public Utilities Code Ann. §  6-208 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-208 - Annual Report -- Related Entities

    (a)    A public service company shall list in its annual report the name and address, basis of control, and principal business activities of:        (1)    the public service company; and        (2)    each:            (i)    parent;            (ii)    subsidiary of the public service company;            (iii)    organization the public service company controls; and            (iv)    joint venture in excess of $1,000,000 in which the public service company is involved.    (b)    (1)    For each principal business activity described in subsection (a) of this section, a public service company shall list and describe by SIC code and short title each industry in which the public service company’s activities generated, during the reporting year, at least 10% of gross revenues or $5,000,000.        (2)    The public service company shall compile the list described under paragraph (1) of this subsection in order of significance relative to the total activities of the public service company, based on the percentage of gross revenues generated within each industry.    (c)    For each corporation, partnership, or other business organization in which a public service company owns more than 5% of the outstanding voting securities or other ownership interests, the public service company shall, in its annual report:        (1)    list the corporation, partnership, or other business organization; and        (2)    indicate the percentage that the public service company owns.
MD. Public Utilities Code Ann. §  6-209 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-209 - Annual Report -- Officers and Directors

    (a)    (1)    A public service company shall list in its annual report the name and address of:            (i)    each principal officer, director, trustee, or partner of the public service company and its parent; and            (ii)    each individual exercising functions similar to that of a director, trustee, or partner on behalf of the public service company and its parent.        (2)    For each individual described in paragraph (1) of this subsection, the public service company shall list:            (i)    the title and position with the public service company and any parent;            (ii)    the title and position with any subsidiary of the public service company and any other company, firm, or organization that the public service company controls;            (iii)    the principal occupation or business affiliation, if different than that provided in item (i) or (ii) of this paragraph; and            (iv)    each affiliation with any other business or financial organization, firm, or partnership doing business with the public service company.    (b)    In its annual report, a public service company shall:        (1)    list each contract, agreement, or other business arrangement exceeding an aggregate value of $1,000,000 between the public service company and any business or financial organization, firm, or partnership listed under subsection (a)(2)(iii) and (iv) of this section;        (2)    except for compensation related to a position with the public service company, list each contract, agreement, or other business arrangement with a value exceeding $2,500 entered into during the reporting year between the public service company and each officer and director listed in subsection (a) of this section;        (3)    for each contract, agreement, or other business arrangement described in paragraph (1) or (2) of this subsection, identify the parties, amounts, dates, and product or service involved; and        (4)    list the professional services performed for the public service company by each firm, partnership, or organization with which an officer or director of the public service company is affiliated.
MD. Public Utilities Code Ann. §  6-210 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 2 - Reporting Requirements|Section 6-210 - Annual Report -- Debt Holdings

    (a)    (1)    Except as provided in paragraph (2) of this subsection, a public service company shall describe in its annual report each long-term debt of the public service company exceeding $1,000,000, including:            (i)    the name and address of the creditor;            (ii)    the character of the debt;            (iii)    the nature of any security;            (iv)    the date of origin of the debt;            (v)    the date of maturity of the debt;            (vi)    the total amount of the debt;            (vii)    the rate of interest; and            (viii)    the total amount of interest to be paid.        (2)    If the long-term debt is in the form of bonds, debentures, or other widely held debt, the public service company shall list the name and address of the trustee, if available, in place of the name and address of the creditor.    (b)    In its annual report, a public service company shall:        (1)    except for the accounts payable of the public service company, describe each short–term debt, including:            (i)    the name and address of the creditor;            (ii)    the character of the debt;            (iii)    the period of the debt;            (iv)    the rate of interest;            (v)    the total amount of the debt;            (vi)    the nature of any security; and            (vii)    the date the debt was paid or shall be paid;        (2)    describe, if involving aggregate payments exceeding $1,000,000, each financing lease, equipment trust, conditional sales contract, or major liability related to the capital assets of the public service company; and        (3)    provide a copy of any restrictive covenant attached to the debt described in item (1) or (2) of this subsection.    (c)    In its annual report, a public service company shall, if available:        (1)    list the name and address of each holder of more than 5% of each issue reported under this section; and        (2)    identify the holder as a bank, broker, holding company, individual, or other person.
MD. Public Utilities Code Ann. §  6-301 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 3 - Acquisition of Water Companies and Sewage Disposal Companies|Section 6-301 - Definitions

    (a)    In this subtitle the following words have the meanings indicated.    (b)    “Acquiring entity” means:        (1)    a water company or a sewage company that is acquiring a selling utility as the result of a voluntary arm’s length transaction between the buyer and seller; or        (2)    another person that:            (i)    is acquiring a selling utility as the result of a voluntary arm’s length transaction between the buyer and seller; and            (ii)    has applied to the Commission, directly or through an affiliate, for authority to operate as a public service company in the State.    (c)    “Affiliate” has the meaning stated in § 7–501 of this article.    (d)    “Construction allowance” means an accounting practice that recognizes the capital costs, including debt and equity funds that are used to finance the construction costs of an improvement to a selling utility’s assets by an acquiring entity.    (e)    “Fair market value” means the average of the two utility valuation expert appraisals conducted under § 6–304 of this subtitle.    (f)    “Selling utility” means a water company or a sewage disposal company or any other water service or sewage disposal service provider in the State, including any State, county, or municipal water service provider or sewage disposal service provider that is being purchased by an acquiring entity as the result of a voluntary arm’s length transaction between the buyer and seller.    (g)    “Utility valuation expert” or “expert” means a person hired by an acquiring public utility and selling utility for the purpose of conducting an economic valuation of the selling utility to determine its fair market value.
MD. Public Utilities Code Ann. §  6-302 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 3 - Acquisition of Water Companies and Sewage Disposal Companies|Section 6-302 - Applicability of Subtitle

    This subtitle applies to the sale and acquisition, including all tangible assets, of public and private water service providers and sewage disposal service providers with fewer than 400,000 customers.
MD. Public Utilities Code Ann. §  6-303 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 3 - Acquisition of Water Companies and Sewage Disposal Companies|Section 6-303 - Acquisition of Controlling Interest in Not-for-Profit Water or Sewage Disposal Service

    (a)    Without prior authorization of the Commission, a person may not acquire a controlling interest in any State, county, municipal, or similar not–for–profit water service or sewage disposal service provider, for the purpose of converting the provider into a water company or sewage disposal company.    (b)    The Commission may authorize an acquisition under subsection (a) of this section if the Commission finds that the acquisition is consistent with the public convenience and necessity.
MD. Public Utilities Code Ann. §  6-304 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 3 - Acquisition of Water Companies and Sewage Disposal Companies|Section 6-304 - Determining Fair Market Value of the Selling Utility

    (a)    On agreement by both the acquiring entity and the selling utility, the fair market value of the selling utility shall be determined in accordance with this section.    (b)    The acquiring entity and the selling utility shall each be responsible for hiring a utility valuation expert to conduct an appraisal of the selling utility to determine the fair market value of the selling utility.    (c)    Each utility valuation appraisal shall be completed in accordance with the Uniform Standards of Professional Appraisal Practice.    (d)    (1)    The acquiring entity and the selling utility shall engage the services of the same licensed engineer to conduct an assessment of the tangible assets of the selling utility.        (2)    The assessment shall be incorporated into the appraisals under subsection (c) of this section.
MD. Public Utilities Code Ann. §  6-305 (2021)
2021 Maryland Statutes|Public Utilities|Division I - Public Services and Utilities|Title 6 - Business Structure|Subtitle 3 - Acquisition of Water Companies and Sewage Disposal Companies|Section 6-305 - Restrictions on Utility Valuation Expert

    A utility valuation expert may not:        (1)    derive any material financial benefit from the sale of the selling utility other than fees for services rendered; or        (2)    be an immediate family member of a director, an officer, or an employee of either the acquiring entity or the selling utility within 12 months before the date of hiring to perform an appraisal under this subtitle.