15 USC Ch. 2C: Front Matter
From Title 15-COMMERCE AND TRADECHAPTER 2C-PUBLIC UTILITY HOLDING COMPANIES
CHAPTER 2C-PUBLIC UTILITY HOLDING COMPANIES
Sec.
79.
Short title of chapter.
79a.
Necessity for control of holding companies.
(a)
Interstate nature of holding companies.
(b)
Protection of investors and interests of consumers.
(c)
Declaration of policy of chapter.
79b.
Definitions; application of chapter.
(a)
Definitions.
(b)
Order of Commission essential to status as "holding company", "subsidiary company", or "affiliate".
(c)
Chapter inapplicable to United States, States, or their governmental agencies.
79c.
Exemptions regarding holding companies.
(a)
Exemption of holding companies.
(b)
Exemption of subsidiary companies of holding company.
(c)
Filing for exemption.
(d)
Exemption of specified class or classes of persons.
79d.
Transactions by unregistered holding companies.
(a)
Transactions after December 1, 1935.
(b)
Outstanding securities held by nonresidents; registration.
79e.
Registration of holding companies.
(a)
Notification of registration; effective date of registration.
(b)
Registration statement; contents.
(c)
Preliminary registration statement prior to complete statement.
(d)
Cessation of existence as holding company.
79f.
Unlawful transactions by registered companies.
(a)
Issuing, selling, or altering rights of stockholders to declaration.
(b)
Exemptions from operation of subsection (a).
(c)
Selling from house to house; causing officer or employer of subsidiary to sell.
79g.
Declarations by registered companies in respect to security transactions.
(a)
Contents.
(b)
Effective date of declaration; order of Commission.
(c)
Conditions precedent to permitting declaration to become effective.
(d)
Conditions having permission of effectiveness.
(e)
Declaration regarding alterations, priorities, voting power, and other rights of security holders.
(f)
Order permitting declaration to become effective.
(g)
Compliance with State laws as condition to permission of effectiveness.
79h.
Acquiring interest in electric and gas companies serving same territory.
79i.
Acquisition of securities and utility assets and other interests.
(a)
Acquisition prohibited prior to Commission approval.
(b)
Acquisition of utility assets authorized by State Commission; holding company systems organized in same State.
(c)
Acquisition of securities guaranteed by United States, State, or political subdivision; other securities and commercial paper held appropriate by Commission.
79j.
Approval of acquisition of securities and utility assets and other interests.
(a)
Contents of application.
(b)
Conditions affecting approval.
(c)
Conditions barring approval.
(d)
Approval to be granted in reasonable time.
(e)
Terms and conditions of order granting approval.
(f)
Compliance with State laws as condition of approval.
79k.
Simplification of holding company systems.
(a)
Examination by Commission with view to simplification.
(b)
Limitations on operations of holding company systems.
(c)
Time for compliance with order limiting operations.
(d)
Court enforcement of order for simplification; appointment of trustee; disposition of assets; reorganization plan.
(e)
Submission by company of plan for simplification; court enforcement of order of approval; appointment of trustee.
(f)
Commission as trustee; submission of reorganization plan by Commission or interested party.
(g)
Solicitation of proxies, powers of attorney, etc., in respect of reorganization plan.
79l.
Intercompany and other transactions relating to registered companies.
(a)
Borrowing from other companies in same system.
(b)
Loans to other companies in same system.
(c)
Payment of dividends or retirement of securities.
(d)
Sale of securities of other companies.
(e)
Solicitation of proxies, powers of attorney, etc., regarding securities.
(f)
Negotiations or transactions with other companies in contravention of rules and regulations of Commission.
(g)
Negotiations or transactions by affiliate in contravention of rules and regulations of Commission.
(h)
Political contributions forbidden.
(i)
Representation before Congress or Commissions; filing statement of employment, compensation, etc.
79m.
Service, sales, and construction contracts.
(a)
Contracts by holding companies.
(b)
Contracts by subsidiary or mutual service companies.
(c)
Determination and allocation of costs; duration of contracts; regulation by rules of Commission.
(d)
Application for approval as mutual service company and nature of business; regulation by rules of Commission.
(e)
Contracts by affiliate in contravention of rules and regulations of Commission.
(f)
Contracts by persons engaged in performance of service, sales and construction in contravention of rules of Commission.
(g)
Investigations and recommendations by Commission.
79n.
Periodic and other reports.
79o.
Accounts and records.
(a)
Duty of holding companies to keep.
(b)
Duty of affiliates to keep.
(c)
Duty of mutual service companies to keep.
(d)
Duty of persons engaged in service, sales, or construction to keep.
(e)
Use of forms other than prescribed by Commission unlawful.
(f)
Examinations by Commission.
(g)
Submission by holding company or subsidiary to examination by holders of securities.
(h)
Submission by mutual service companies and persons engaged in rendering service to examination by other companies.
(i)
Uniform methods for keeping accounts; power of Commission to prescribe.
79p.
Misleading statements, penalty; rights and remedies additional to those existing under other laws.
79q.
Officers and directors.
(a)
Statement of ownership of securities; duty to file.
(b)
Limitation on profits in purchase and sale of securities.
(c)
Officers or representatives of banking institutions disqualified to serve as officers or directors.
79r.
Investigations, injunctions, and enforcement of law.
(a)
Investigations to determine violations, aid in enforcement and as basis for recommendations.
(b)
Investigation of business, financial condition, etc., of companies.
(c)
Administering oaths; subpenas; examining witnesses.
(d)
Court aid to compel giving testimony; penalty for refusal to testify.
(e)
Injunctions to restrain violations; prosecutions.
(f)
Mandamus to compel compliance with law.
79s.
Hearings before Commission.
79t.
Rules, regulations, and orders.
(a)
Authority of Commission to make.
(b)
Consistency with laws of United States or States.
(c)
Effective date; classification of persons and matters; hearings.
(d)
Filing information or documents by reference.
79u.
Effect on other laws.
79v.
Information filed with Commission.
(a)
Public disclosure of information; protection of trade secrets.
(b)
Written objection to public disclosure.
(c)
Disclosure of nonpublic information to other than Commission personnel.
79w.
Omitted.
79x.
Court review of orders.
(a)
Petition; jurisdiction; findings of Commission; additional evidence; finality.
(b)
Stay of Commission's order.
79y.
Jurisdiction of offenses and suits.
79z.
Validity of contracts.
(a)
Waiver provisions.
(b)
Contract provisions in violation of chapter; actual knowledge of violations.
(c)
Validity of loans, extensions of credit and creation of liens; actual knowledge of violations.
79z–1.
Liability of controlling person; preventing compliance with law.
79z–2.
Representation of guaranty or recommendation by United States.
79z–3.
Penalties.
79z–4.
Study of public-utility companies; recommendation.
79z–5.
Hiring and leasing authority of Commission.
79z–5a.
Exempt wholesale generators.
(a)
Definitions.
(b)
Foreign retail sales.
(c)
State consent for existing rate-based facilities.
(d)
Hybrids.
(e)
Exemption of EWGS.
(f)
Ownership of EWGS by exempt holding companies.
(g)
Ownership of EWGS by registered holding companies.
(h)
Financing and other relationships between EWGS and registered holding companies.
(i)
Application of chapter to other eligible facilities.
(j)
Ownership of exempt wholesale generators and qualifying facilities.
(k)
Protection against abusive affiliate transactions.
(l)
Reciprocal arrangements prohibited.
79z–5b.
Treatment of foreign utilities.
(a)
Exemptions for foreign utility companies.
(b)
Ownership of foreign utility companies by exempt holding companies.
(c)
Registered holding companies.
(d)
Effect on existing law; no State preemption.
(e)
Reporting requirements.
(f)
Prohibition on assumption of liabilities.
(g)
Prohibition on pledging or encumbering utility assets.
79z–5c.
Exempt telecommunications companies.
(a)
Definitions.
(b)
State consent for sale of existing rate-based facilities.
(c)
Ownership of ETCS by exempt holding companies.
(d)
Ownership of ETCS by registered holding companies.
(e)
Financing and other relationships between ETCS and registered holding companies.
(f)
Reporting obligations concerning investments and activities of registered public utility holding company systems.
(g)
Assumption of liabilities.
(h)
Pledging or mortgaging of assets.
(i)
Protection against abusive affiliate transactions.
(j)
Nonpreemption of rate authority.
(k)
Reciprocal arrangements prohibited.
(l)
Books and records.
(m)
Independent audit authority for State commissions.
(n)
Applicability of telecommunications regulation.
79z–6.
Separability clause.
Chapter Referred to in Other Sections
This chapter is referred to in sections 77ccc, 77hhh, 77jjj, 77kkk, 77www, 77zzz, 78c, 80a–2, 80a–3, 80a–37, 80a–49, 80b–2 of this title; title 7 section 12a; title 16 sections 824, 824a–3, 824e, 825d, 825q, 839f; title 29 sections 306, 432; title 42 section 7651b.