reglab/statecodes huggingface dataset:
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 3 - Equipment, Practices, and Facilities › Section 787.

787. (a) Any public utility, or its contractor, to whom an excavation permit has been issued by any local agency for the installation, removal, maintenance, or repair of underground facilities may backfill the permitted excavation in any public road or highway with native spoil if all of the following conditions are met:
(1) The native spoil is competent spoil.
(2) Compaction meets the local agency’s requirements using industry standards for testing compaction.
(3) The public utility or its contractor has no physical evidence of, or substantial reason to believe that there has been, contamination of the soil from hazardous wastes.
(4) Within 30 days prior to compaction, a local agency has not provided the public utility or its contractor with physical evidence of, or substantial reason to believe that there has been, contamination of the soil from hazardous wastes.
(b) If a local agency has determined through prior experience that the public utility that is applying for, or benefiting from, the excavation permit has previously neglected to adequately fill or compact prior excavations, whether directly or through its contractors, the local agency may, as a condition of the excavation permit do either or both of the following:
(1) Require the public utility to post a bond, with a term not exceeding one year, amounting to two times the cost for the local agency to repair the backfill work, if done improperly, or any related collateral damage.
(2) Require the public utility to submit a report from a registered soils engineer that the proper compaction of the excavation has been achieved.
(c) For purposes of this section:
(1) “Competent spoil” means soils that can be treated to bring their moisture content into the optimum range, and that can achieve the compaction required by the local agency.
(2) “Local agency” means any city or county agency.
(3) “Public utility” means any electrical corporation, gas corporation, heat corporation, water corporation, telephone corporation, pipeline corporation, sewer corporation, telegraph corporation, where the service is performed for, or the commodity delivered to, the public or any portion thereof.
(Added by Stats. 1991, Ch. 1060, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 3 - Equipment, Practices, and Facilities › Section 788.

788. (a) This section applies only to a telephone corporation that is a provider of local exchange service.
(b) On or before March 1, 1992, and annually thereafter, every telephone corporation that is a provider of local exchange service shall issue to each of its residential subscribers, in a manner and form approved by the commission, a notice containing the following information:
(1) An explanation of the responsibilities of the subscriber and the telephone corporation in relation to the customer’s inside telephone wiring, as that term is defined by and pursuant to Section 1941.4 of the Civil Code, including an explanation of lessor and tenant obligations.
(2) An explanation of the telephone corporation’s procedures and charges for determining and notifying the subscriber of whether a malfunction in its telephone wire is located in the telephone network, or is located in the subscriber’s inside telephone wiring, including customer-provided equipment.
(3) If the telephone corporation offers any services to maintain or repair a subscriber’s inside telephone wiring, a full description of the types of services offered, including the rates, charges, and conditions for these services, and whether those services are offered by nonutility providers.
(Amended by Stats. 1999, Ch. 1005, Sec. 51. Effective January 1, 2000.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 3.5 - Water Utility Infrastructure, Plant and Facilities › Section 789.

789. This article shall be known and may be cited as the Water Utility Infrastructure Improvement Act of 1995.
(Added by Stats. 1995, Ch. 431, Sec. 1. Effective January 1, 1996.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 3.5 - Water Utility Infrastructure, Plant and Facilities › Section 789.1.

789.1. The Legislature finds and declares all of the following:
(a) Water corporations currently are faced with, and will continue to be faced with, increasing demands for new infrastructure, plant, and facilities to comply with increasingly strict state and federal safe drinking water laws and regulations.
(b) The state’s limited water supply will require investment by water corporations in infrastructure, plant, and facilities to develop new sources of supply, make existing sources of supply more reliable, and encourage and implement water conservation measures including water reclamation and reuse.
(c) Water corporations also are faced with the need to replace or upgrade water infrastructure, plant, and facilities and to design and construct all of those replacements and improvements to meet the governing fire flow standards for public fire protection purposes.
(d) Water corporations may, from time to time, own real property that once was, but is no longer, necessary or useful in the provision of water utility service and that now may be sold. It is the policy of the state that water corporations be encouraged to dispose of real property that once was, but is no longer, necessary or useful in the provision of water utility service and to invest the net proceeds therefrom in utility infrastructure, plant, facilities, and properties that are necessary or useful in the provision of water service to the public.
(e) It is the policy of the state that any net proceeds from the sale by a water corporation of real property that was at any time, but is no longer, necessary or useful in the provision of public utility service, shall be invested by a water corporation in infrastructure, plant, facilities, and properties that are necessary or useful in the performance of its duties to the public and that all of that investment in infrastructure, plant, facilities, and properties shall be included among the other utility property of the water corporation that is used and useful in providing water service and upon which the commission authorizes the water corporation the opportunity to earn a reasonable return.
(Added by Stats. 1995, Ch. 431, Sec. 1. Effective January 1, 1996.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 3.5 - Water Utility Infrastructure, Plant and Facilities › Section 790.

790. (a) Whenever a water corporation sells any real property that was at any time, but is no longer, necessary or useful in the performance of the water corporation’s duties to the public, the water corporation shall invest the net proceeds, if any, including interest at the rate that the commission prescribes for memorandum accounts, from the sale in water system infrastructure, plant, facilities, and properties that are necessary or useful in the performance of its duties to the public. For purposes of tracking the net proceeds and their investment, the water corporation shall maintain records necessary to document the investment of the net proceeds pursuant to this article. The amount of the net proceeds shall be a water corporation’s primary source of capital for investment in utility infrastructure, plant, facilities, and properties that are necessary or useful in the performance of the water corporation’s duties in providing water utility service to the public.
(b) All water utility infrastructure, plant, facilities, and properties constructed or acquired by, and used and useful to, a water corporation by investment pursuant to subdivision (a) shall be included among the water corporation’s other utility property upon which the commission authorizes the water corporation the opportunity to earn a reasonable return.
(c) This article shall apply to the investment of the net proceeds referred to in subdivision (a) for a period of 8 years from the end of the calendar year in which the water corporation receives the net proceeds. The balance of any net proceeds and interest thereon that is not invested after the eight-year period shall be allocated solely to ratepayers.
(d) Upon application by a water corporation with 10,000 or fewer service connections, the commission may, after a hearing, by rule or order, exempt the water corporation from the requirements of this article.
(e) The commission retains continuing authority to determine the used, useful, or necessary status of any and all infrastructure improvements and investments.
(Added by Stats. 1995, Ch. 431, Sec. 1. Effective January 1, 1996.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 3.5 - Water Utility Infrastructure, Plant and Facilities › Section 790.1.

790.1. In any proceeding pending after January 1, 1996, the commission shall apply this article in its consideration of any matter concerning the sale by a water corporation of real property that is not necessary or useful in the provision of water utility service, for any sale that occurred prior to that date. If the water corporation has not invested the net proceeds therefrom in utility infrastructure, plant, facilities, and properties that are necessary or useful in the provision of water service to the public, it may elect to do so during the period provided in subdivision (c) of Section 790 and that period shall be deemed to have commenced as of January 1, 1996.
(Added by Stats. 1996, Ch. 965, Sec. 1. Effective January 1, 1997.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 791.

791. Each public utility shall have an office in a county of this State in which its property or some portion thereof is located and shall keep in that office all the books, accounts, papers, and records required by the commission to be kept within this State. No such books, accounts, papers, or records shall be at any time removed from the State except upon such conditions as the commission prescribes.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 792.

792. The commission may establish a system of accounts to be kept by the public utilities subject to its jurisdiction, or classify such public utilities and establish a system of accounts for each class, and may prescribe the manner in which such accounts shall be kept. It may also prescribe the forms of accounts, records, and memoranda to be kept by such public utilities, including the accounts, records, and memoranda of the movement of traffic as well as the receipts and expenditures of moneys, and any other forms, records, and memoranda which in the judgment of the commission may be necessary to carry out any of the provisions of this part.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 792.5.

792.5. (a) Whenever the commission authorizes any change in rates reflecting and passing through to customers specific changes in costs, except rates set for common carriers, the commission shall require as a condition of the order that the public utility establish and maintain a balancing account reflecting the balance, whether positive or negative, between the related costs and revenues, and the commission shall take into account by appropriate adjustment or other action any positive or negative balance remaining in the balancing account at the time of any subsequent rate adjustment.
(b) The commission shall develop a risk-based approach for reviewing or auditing balancing accounts periodically to ensure that the transactions recorded in the balancing accounts are for allowable purposes and are supported by appropriate documentation.
(c) The commission shall maintain an inventory of the balancing accounts established pursuant to this section.
(d) The commission shall require the public utility to record all related costs and revenues in the balancing account, unless those costs or revenues are specifically exempted by the commission.
(e) The commission shall adopt balancing account review or audit procedures that are consistent with a risk-based approach.
(f) The commission may forgo the review or audit of a balancing account pursuant to this section if an independent auditor has reviewed or audited the balancing account in the preceding five years.
(Amended by Stats. 2022, Ch. 251, Sec. 28. (AB 209) Effective September 6, 2022.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 793.

793. The system of accounts and the forms of accounts, records, and memoranda prescribed by the commission for corporations subject to the regulatory authority of the United States, shall not be inconsistent with the systems and forms from time to time established for such corporations by or under the authority of the United States. Nothing in this section or Section 794 shall affect the power of the commission to prescribe forms of accounts, records, and memoranda covering information in addition to that required by or under the authority of the United States.
(Amended by Stats. 1968, Ch. 832.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 794.

794. The commission may, after notice, and hearing if requested within 15 days after receipt of notice, prescribe by order the accounts in which particular outlays and receipts shall be entered, charged, or credited. Where the commission has prescribed the forms of accounts, records, or memoranda to be kept by any public utility for any of its business, it is unlawful for such public utility to keep any accounts, records, or memoranda for such business other than those so prescribed, or those prescribed by or under the authority of any other state or of the United States, except such accounts, records, or memoranda as are explanatory of and supplemental to those prescribed by the commission.
(Amended by Stats. 1968, Ch. 832.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 795.

795. The commission may, after hearing if requested, require any or all public utilities to carry a proper and adequate depreciation account in the form and in accordance with such rules as the commission prescribes. The commission may, from time to time, ascertain and by order fix the proper and adequate rates of depreciation of the several classes of property of each public utility.
(Amended by Stats. 1970, Ch. 519.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 796.

796. (a) The commission shall disallow, for purposes of setting the rates to be charged by any electrical, gas, or heat corporation for the services or commodities furnished by it, all expenses for advertising which encourage increased consumption of such services or commodities.
(b) Notwithstanding subdivision (a), the commission may allow, for purposes of setting rates, expenses for advertising which encourages the more efficient operation of the electric, gas, or heating plant, or for advertising which encourages the more efficient use of electricity, gas, or heat or the conservation of energy or natural resources, or presents accurate information on the economical purchase, maintenance, or effective use of electrical or gas appliances and devices.
(Added by Stats. 1974, Ch. 194.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 797.

797. The commission shall periodically audit, or direct that an independent audit be periodically conducted for, all significant transactions, as specified by the commission, between a water corporation with more than 2,000 service connections, or an electrical, gas, or telephone corporation, and every subsidiary or affiliate of, or corporation holding a controlling interest in, that water, electrical, gas, or telephone corporation. The commission, in this connection, may utilize the services of an independent auditor, who shall be selected and supervised by the commission, or may direct a water corporation with more than 2,000 service connections, or an electrical, gas, or telephone corporation, to utilize the services of an independent auditor, who shall be selected and supervised by that water, electrical, gas, or telephone corporation. Nothing in this section prohibits the commission from auditing any transaction between a water corporation with more than 2,000 service connections, or an electrical, gas, or telephone corporation, and any subsidiary or affiliate of, or corporation holding a controlling interest in, that water, electrical, gas, or telephone corporation, as otherwise permitted or required by law.
(Amended by Stats. 2012, Ch. 224, Sec. 4. (SB 1364) Effective January 1, 2013.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 4 - Books and Accounts › Section 798.

798. (a) Whenever the commission finds and determines that any water corporation with more than 2,000 service connections, or an electrical, gas, or telephone corporation, has willfully made an imprudent payment to, or received a less than reasonable payment from, any subsidiary or affiliate of, or corporation holding a controlling interest in, the water, electrical, gas, or telephone corporation in violation of any rule or order of the commission, adopted and published by the commission prior to the transaction but after notice to, and an opportunity to comment by, the affected corporation, and the corporation has sought to recover the payment in any proceeding before the commission, the commission, following a hearing, may levy a penalty against the corporation not to exceed three times the required or prohibited payment, as the case may be, if the commission finds that the payment, in whole or part, was made or received by the corporation for the purpose of benefiting its subsidiary, affiliate, or holding corporation. This penalty is in addition to any criminal penalties which may apply.
(b) In determining whether to impose a civil penalty under this section, the commission may take into consideration multistate public utility diversification activities involving cross-subsidization which are permissible in other states or under federal jurisdiction although in violation of the commission’s rules and orders.
(Amended by Stats. 2012, Ch. 224, Sec. 5. (SB 1364) Effective January 1, 2013.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 816.

816. The power of public utilities to issue stocks and stock certificates or other evidence of interest or ownership and bonds, notes, and other evidences of indebtedness and to create liens on their property situated within this State is a special privilege, the right of supervision, regulation, restriction, and control of which is vested in the State, and such power shall be exercised as provided by law under such rules as the commission prescribes.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 816.5.

816.5. Nothing in this article or in Article 6 (commencing with Section 851) requires a common carrier by railroad subject to the Interstate Commerce Act (49 U.S.C. Sec. 10101 et seq.) or passenger stage corporation to secure from the commission authority to execute any conditional sales contract for the purchase of motor vehicle or railroad equipment or any note or chattel mortgage on that equipment securing the payment of all, or any part, of the purchase price.
(Amended by Stats. 1996, Ch. 1042, Sec. 22. Effective September 29, 1996.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 817.

817. A public utility may issue stocks and stock certificates or other evidence of interest or ownership, and bonds, notes, and other evidences of indebtedness payable at periods of more than 12 months after the date thereof, for any one or more of the following purposes and no others:
(a) For the acquisition of property.
(b) For the construction, completion, extension, or improvement of its facilities.
(c) For the improvement or maintenance of its service.
(d) For the discharge or lawful refunding of its obligations.
(e) For the financing of the acquisition and installation of electrical and plumbing appliances and agricultural equipment which are sold by other than a public utility, for use within the service area of the public utility.
(f) For the reorganization or readjustment of its indebtedness or capitalization upon a merger, consolidation, or other reorganization.
(g) For the retirement of or in exchange for one or more outstanding stocks or stock certificates or other evidence of interest or ownership of such public utility, or bonds, notes, or other evidence of indebtedness of such public utility, with or without the payment of cash.
(h) For the reimbursement of moneys actually expended from income or from any other money in the treasury of the public utility not secured by or obtained from the issue of stocks or stock certificates or other evidence of interest or ownership, or bonds, notes, or other evidences of indebtedness of the public utility, for any of the aforesaid purposes except maintenance of service and replacements, in cases where the applicant has kept its accounts and vouchers for such expenditures in such manner as to enable the commission to ascertain the amount of money so expended and the purposes for which such expenditure was made.
(Amended by Stats. 1959, Ch. 1370.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 818.

818. No public utility may issue stocks and stock certificates, or other evidence of interest or ownership, or bonds, notes, or other evidences of indebtedness payable at periods of more than 12 months after the date thereof unless, in addition to the other requirements of law it shall first have secured from the commission an order authorizing the issue, stating the amount thereof and the purposes to which the issue or the proceeds thereof are to be applied, and that, in the opinion of the commission, the money, property, or labor to be procured or paid for by the issue is reasonably required for the purposes specified in the order, and that, except as otherwise permitted in the order in the case of bonds, notes, or other evidences of indebtedness, such purposes are not, in whole or in part, reasonably chargeable to operating expenses or to income.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 819.

819. To enable it to determine whether it will issue the order, the commission may hold a hearing and may make such additional inquiry or investigation, examine such witnesses, books, papers, documents, and contracts, and require the filing of such data as it deems of assistance. The commission may by its order grant permission for the issue of such stocks or stock certificates or other evidence of interest or ownership, or bonds, notes, or other evidences of indebtedness in the amount applied for, or in a lesser amount, or refuse such permission, or grant it subject to such conditions as it deems reasonable and necessary. The commission may authorize issues of bonds, notes, or other evidences of indebtedness, less than, equivalent to or greater than the authorized or subscribed capital stock of a public utility corporation.
(Amended by Stats. 1953, Ch. 702.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 820.

820. The commission shall have no power to authorize the capitalization of the right to be a corporation, or the capitalization of any franchise or permit, or the right to own, operate, or enjoy any such franchise or permit, in excess of the amount (exclusive of any tax or annual charge) actually paid to the State or to a political subdivision thereof as the consideration for the grant of such franchise, permit, or right. No contract for consolidation or lease shall be capitalized, nor shall any public utility issue any bonds, notes, or other evidences of indebtedness against or as a lien upon any contract for consolidation or merger.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 821.

821. Subject to the provisions of this article, any public utility may issue bonds, or other interest bearing securities maturing at periods of more than 12 months after the date thereof, and may issue one or more classes of preferred stock which may have attached thereto warrants entitling the holder to subscribe for shares of common stock in such amounts, at such future dates, at such prices and on such terms and conditions as may be specified in the warrants. Such bonds, or other interest bearing obligations and such preferred stock also may be issued with provision therein that they may be converted into shares of common stock in such amounts, at such future dates, at such prices, and on such terms and conditions as may be specified therein.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 822.

822. Pursuant to this part the commission may, upon an application for an order to issue stocks, bonds, debentures, notes, or other securities or to deliver other consideration in exchange for one or more bona fide outstanding stocks, bonds, debentures, notes, or other securities, claims or property interests, or partly in such exchange and partly for cash, approve the terms and conditions of such issuance and exchange or such delivery and exchange and the fairness of such terms and conditions, after a hearing upon the fairness thereof. All persons to whom it is proposed to issue stocks, bonds, debentures, notes or other securities or to deliver such other consideration in such exchange may appear at such hearing.
(Amended by Stats. 1977, Ch. 235.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 823.

823. (a) No public utility shall, without the consent of the commission, apply any part of the issue of any stock or stock certificate or other evidence of interest or ownership, or bond, note, or other evidence of indebtedness, or any proceeds thereof, to any purpose not specified in the commission’s order, or to any purpose specified in the order in excess of the amount authorized for such purpose, or issue or dispose thereof on any terms less favorable than those specified in the order, or a modification thereof.
(b) A public utility may issue notes, for proper purposes and not in violation of any provision of law, payable at periods of not more than 12 months after the date of issuance of the notes without the consent of the commission.
(c) Notwithstanding the provisions of subdivision (b), no public utility as defined in Section 201(e) of the Federal Power Act (49 Stat. 847, 16 U.S.C. 824) shall, without the consent of the commission, issue notes payable at periods of not more than 12 months after the date of issuance of the notes if such notes and all other notes payable at periods of not more than 12 months after the date of issuance of such notes on which such public utility is primarily or secondarily liable would exceed in aggregate amount 5 percent of the par value of the other securities then outstanding. In the case of securities having no par value, the par value for the purposes of this subsection shall be the fair market value as of the date of issue.
(d) No note payable at a period of not more than 12 months after the date of issuance of such note shall, in whole or in part, be refunded by any issue of stocks or stock certificates or other evidence of interest or ownership, or of bonds, notes of any term or character, or any other evidence of indebtedness, without the consent of the commission.
(Amended by Stats. 1969, Ch. 700.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 824.

824. The commission may require public utilities to account for the disposition of the proceeds of all sales of stocks and stock certificates or other evidence of interest or ownership, and bonds, notes, and other evidences of indebtedness, in such form and detail as it deems advisable, and may establish such rules as it deems reasonable and necessary to insure the disposition of such proceeds for the purposes specified in its order.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 825.

825. All stock and every stock certificate or other evidence of interest or ownership, and every bond, note, or other evidence of indebtedness, of a public utility, issued without an order of the commission authorizing the issue thereof then in effect or not conforming in its provisions to any of the provisions which it is required by the order of authorization to contain, is void. No failure in any other respect to comply with the terms or conditions of the order of authorization of the commission shall render void any stock or stock certificate or other evidence of interest or ownership, or any bond, note, or other evidence of indebtedness, except as to a corporation or person taking it otherwise than in good faith and for value and without actual notice.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 826.

826. Every public utility which, directly or indirectly issues or causes to be issued, any stock or stock certificate or other evidence of interest or ownership, or bond, note, or other evidence of indebtedness, in nonconformity with the order of the commission authorizing the issue, or contrary to the provisions of this part, or of the Constitution of this State, or which applies any part of the proceeds from the sale thereof, to any purpose other than the purpose or purposes specified in the commission’s order or in an amount in excess of the amount authorized for a specified purpose in the order, is subject to a penalty of not less than five hundred dollars ($500), nor more than twenty thousand dollars ($20,000) for each offense.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 827.

827. Every officer, agent, or employee of a public utility, and every other person is guilty of a felony who does any of the following acts:
(a) Knowingly authorizes, directs, aids in, issues, or executes, or causes to be issued or executed, any stock or stock certificate or other evidence of interest or ownership, or bond, note, or other evidence of indebtedness, in nonconformity with the order of the commission authorizing the issue, or contrary to the provisions of this part or of the Constitution of this State.
(b) Knowingly makes any false statement or representation in any proceeding before the commission or with knowledge of its falsity files or causes to be filed with the commission any false statement or representation which tends in any way to influence the commission to make an order authorizing the issue of any stock or stock certificate or other evidence of interest or ownership, or any bond, note, or other evidence of indebtedness, or which results in procuring from the commission the making of any such order.
(c) With knowledge that any false statement or representation was made to the commission, in any proceeding, tending in any way to influence the commission to make such order, issues or executes or negotiates, or causes to be issued, executed, or negotiated any such stock or stock certificate or other evidence of interest or ownership, or bond, note, or other evidence of indebtedness.
(d) Directly or indirectly, knowingly applies, or causes or assists to be applied any part of the proceeds from the sale of any stock or stock certificate or other evidence of interest or ownership, or bond, note, or other evidence of indebtedness, to any purpose not specified in the commission’s order, or to any purpose specified in the commission’s order in excess of the amount authorized for such purpose.
(e) With knowledge that any stock or stock certificate or other evidence of interest or ownership, or bond, note, or other evidence of indebtedness, has been issued or executed in violation of any of the provisions of this part, negotiates, or causes the same to be negotiated.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 828.

828. No provision of this part, and no act done or performed under or in connection therewith, shall obligate the State to pay or guarantee, in any manner whatsoever, any stock or stock certificate or other evidence of interest or ownership, or bond, note, or other evidence of indebtedness, authorized, issued, or executed under the provisions of this part.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 829.

829. (a) This article shall not apply to any person or corporation which transacts no business subject to regulation under this part, except performing services or delivering commodities for or to public utilities or municipal or other public corporations primarily for resale or use in serving the public or any portion thereof. This article shall apply to any public utility if the commission finds, in a proceeding to which the public utility is or may become a party, that the application of this article is required by the public interest.
(b) (1) Except for Section 828, a telephone corporation that is not regulated under a rate-of-return regulatory structure is exempt from this article. This subdivision does not exempt a telephone corporation that is also an electrical corporation or a gas corporation, unless the commission determines the telephone corporation is exempt pursuant to subdivision (c). As used in this subdivision, a “rate-of-return regulatory structure” means a system under which the rates and charges of the telephone corporation are limited by a maximum permissible price that may be charged for a specific service. Telephone corporations regulated by a framework under which they may exercise pricing flexibility for all or most of the services offered are not regulated under a rate-of-return regulatory structure.
(2) Notwithstanding paragraph (1), the commission may impose any requirement of this article on a telephone corporation if the commission finds, in a proceeding in which the telephone corporation is or may become a party, that the application of any provision of this article is required by the public interest.
(c) The commission may from time to time by order or rule, and subject to such terms and conditions as may be prescribed therein, exempt any public utility or class of public utility from this article if it finds that the application thereof to such public utility or class of public utility is not necessary in the public interest.
(Amended by Stats. 2007, Ch. 239, Sec. 1. Effective January 1, 2008.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5 - Stocks and Security Transactions › Section 830.

830. No public utility shall assume any obligation or liability as guarantor, endorser, surety, or otherwise in respect of the securities of any other person, firm, or corporation, when such securities are payable at periods of more than 12 months after the date thereof, without having first secured from the commission an order authorizing it so to do. Every such assumption made other than in accordance with the order of the commission authorizing it is void.
(Enacted by Stats. 1951, Ch. 764.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5.5 - Financing of Transition Costs › Section 844.

844. (a) A transfer of transition property by an electrical corporation to an affiliate or to a financing entity, or by an affiliate of an electrical corporation or a financing entity to another financing entity, which the parties have in the governing documentation expressly stated to be a sale or other absolute transfer, in a transaction approved in a financing order, shall be treated as an absolute transfer of all of the transferor’s right, title, and interest (as in a true sale), and not as a pledge or other financing, of the transition property, other than for federal and state income and franchise tax purposes. Granting to holders of rate reduction bonds a preferred right to revenues of the electrical corporation, or the provision by the company of other credit enhancement with respect to rate reduction bonds, shall not impair or negate the characterization of any transfer as a true sale, other than for federal and state income and franchise tax purposes.
(b) A transfer of transition property shall be deemed perfected as against third persons when both of the following have taken place:
(1) The commission has issued the financing order authorizing the fixed transition amounts included in the transition property.
(2) An assignment of the transition property in writing has been executed and delivered to the transferee.
(c) As between bona fide assignees of the same right for value without notice, the assignee first filing a financing statement in accordance with Chapter 5 (commencing with Section 9501) of Division 9 of the Commercial Code naming the assignor of the transition property as debtor and identifying the transition property has priority. Any description of the transition property shall be sufficient if it refers to the financing order creating the transition property. A copy of the financing statement shall be filed by the assignee with the commission, and the commission may require the assignor or the assignee to make other filings with respect to the transfer in accordance with procedures it may establish, but these filings shall not affect the perfection of the transfer.
(Amended by Stats. 1999, Ch. 991, Sec. 56. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5.5 - Financing of Transition Costs › Section 845.

845. Any successor to the electrical corporation, whether pursuant to any bankruptcy, reorganization, or other insolvency proceeding, or pursuant to any merger, sale, or transfer, by operation of law, or otherwise, shall perform and satisfy all obligations of the electrical corporation pursuant to this article in the same manner and to the same extent as the electrical corporation, including, but not limited to, collecting and paying to the holders of rate reduction bonds or their representatives or the applicable financing entity revenues arising with respect to the transition property sold to the applicable financing entity or pledged to secure rate reduction bonds.
(Added by Stats. 1996, Ch. 854, Sec. 11. Effective September 24, 1996.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5.5 - Financing of Transition Costs › Section 846.

846. The authority of the commission to issue financing orders pursuant to Section 841 shall expire on June 30, 2022. The expiration of the authority shall have no effect upon financing orders adopted by the commission pursuant to this article or any transition property arising therefrom, or upon the charges authorized to be levied thereunder, or the rights, interests, and obligations of the electrical corporation or a financing entity or holders of transition bonds pursuant to the financing order, or the authority of the commission to monitor, supervise, or take further action with respect to the order in accordance with the terms of this article and of the order.
(Amended by Stats. 2016, Ch. 842, Sec. 17. (SB 1222) Effective January 1, 2017.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5.5 - Financing of Transition Costs › Section 846.2.

846.2. (a) Notwithstanding subdivision (c) of Section 841, for any electrical corporation that ended its rate freeze period described in subdivision (a) of Section 368 prior to July 15, 1999, the commission may order a fair and reasonable credit to ratepayers of any excess rate reduction bond proceeds.
(b) “Excess rate reduction bond proceeds,” as used in this section, means proceeds from the sale of rate reduction bonds authorized by commission financing orders issued pursuant to this article that are subsequently determined by the commission to be in excess of the amounts necessary to provide the 10-percent rate reduction during the period when the rates were frozen pursuant to subdivision (a) of Section 368.
(Added by Stats. 1999, Ch. 683, Sec. 1. Effective January 1, 2000.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5.5 - Financing of Transition Costs › Section 847.

847. Regulations adopted to implement this article shall not be subject to the Administrative Procedure Act (Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code).
(Added by Stats. 1996, Ch. 854, Sec. 11. Effective September 24, 1996.)
2023 California Code › Public Utilities Code - PUC › DIVISION 1 - REGULATION OF PUBLIC UTILITIES › PART 1 - PUBLIC UTILITIES ACT › CHAPTER 4 - Regulation of Public Utilities › ARTICLE 5.6 - Financing Utility Recovery › Section 848.4.

848.4. (a) A transfer of recovery property by the recovery corporation to an affiliate or to a financing entity, or by an affiliate of the recovery corporation or a financing entity to another financing entity, which the parties in the governing documentation have expressly stated to be a sale or other absolute transfer, in a transaction approved in a financing order, shall be treated as an absolute transfer of all of the transferor’s right, title, and interest (as in a true sale), and not as a pledge or other financing, of the recovery property, other than for federal and state income and franchise tax purposes. The grant to holders of recovery bonds of a preferred right to revenues of the recovery corporation, or the provision by the company of other credit enhancement with respect to recovery bonds, shall not impair or negate the characterization of any transfer as a true sale, other than for federal and state income and franchise tax purposes.
(b) A transfer of recovery property shall be deemed perfected as against third persons when both of the following have taken place:
(1) The commission has issued the financing order authorizing the fixed recovery amounts included in the recovery property.
(2) An assignment of the recovery property in writing has been executed and delivered to the transferee.
(c) As between bona fide assignees of the same right for value without notice, the assignee first filing a financing statement in accordance with Chapter 5 (commencing with Section 9501) of Division 9 of the Commercial Code naming the assignor of the recovery property as debtor and identifying the recovery property has priority. Any description of the recovery property is sufficient if it refers to the financing order creating the recovery property. A copy of the financing statement shall be filed by the assignee with the commission, and the commission may require the assignor or the assignee to make other filings with respect to the transfer in accordance with procedures it may establish, but these filings shall not affect the perfection of the transfer.
(Added by Stats. 2004, Ch. 46, Sec. 5. Effective June 7, 2004.)