279.220 Foreign cooperatives may extend lines into this state -- Conditions --

272 words·~1 min read·/ky/279-220

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Limitation.

(1)Any rural electric cooperative corporation organized under a law of any state

contiguous to this state, which law is substantially similar to the law under which

such corporations may be organized in this state, may extend its operations into this

state for a distance not exceeding three

(3)miles from the boundary between that

state and this state, and such extension shall not be considered doing business in

this state within the meaning of the statutes regulating or taxing foreign

corporations doing business in this state. Such corporation shall be entitled to the

same exemptions granted to, and shall pay the same tax required of, domestic

corporations under KRS 279.200.

(2)The operations of such corporation within this state shall be subject to the

supervision of the Public Service Commission, and the commission may take the

necessary action to require the corporation to furnish adequate service at reasonable

rates. If the corporation fails to comply with the regulations and requirements of the

commission it shall forfeit the privilege granted by this section.

(3)The privilege granted by this section shall be effective for a period of five

(5)years

from June 12, 1940, at which date it shall expire, unless the contiguous state grants

a similar privilege to rural electric cooperative corporations incorporated in this

state, in which case it shall continue so long as the contiguous state continues to

grant the same privilege.

(4)A rural electric cooperative corporation organized under a law of any state other

than Kentucky not satisfying the exemptions set forth in subsections (1),

(2)and

of this section is subject to KRS 14A.9-010.