Title 54 Public Utilities Chapter 4 Authority of Commission Over Public Utilities Section 26 Contracts calling for expenditures -- Commission to approve.
54-4-26.Contracts calling for expenditures -- Commission to approve.
Every public utility when ordered by the commission shall, before entering into any
contract for construction work or for the purchase of new facilities or with respect to any other
expenditures, submit such proposed contract, purchase or other expenditure to the commission for
its approval; and, if the commission finds that any such proposed contract, purchase or other
expenditure diverts, directly or indirectly, the funds of such public utility to any of its officers or
stockholders or to any corporation in which they are interested, or is not proposed in good faith
for the economic benefit of such public utility, the commission shall withhold its approval of such
contract, purchase or other expenditure, and may order other contracts, purchases or expenditures
in lieu thereof for the legitimate purposes and economic welfare of such public utility.
No Change Since 1953
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