§ 2101. Definition of affiliated interest.

445 words·~2 min read·/pa/title-66/chapter-21/2101

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

(a)General rule.-- As used in this part "affiliated interest" with a public utility means and includes the following:

(1)Every corporation and person owning or holding directly or indirectly 5% or more of the voting securities of such public utility.

(2)Every corporation and person in any chain of successive ownership of 5% or more of voting securities.

(3)Every corporation 5% or more of whose voting securities are owned by any person or corporation owning 5% or more of the voting securities of such public utility or by any person or corporation in any such chain of successive ownership of 5% or more of voting securities.

(4)Every person who is an officer or director of such public utility or of any corporation in any chain of successive ownership of 5% or more of voting securities.

(5)Every corporation operating a public utility or a servicing organization for furnishing supervisory, construction, engineering, accounting, legal and similar services to utilities, which has one or more officers or one or more directors in common with such public utility, to every other corporation which has directors in common with such public utility where the number of such directors is more than one-third of the total number of the utility's directors.

(6)Every corporation or person which the commission may determine as a matter of fact after investigation and hearing is actually exercising any substantial influence over the policies and actions of such public utility even though such influence is not based upon stockholding, stockholders, directors or officers to the extent specified in this section. As used in this part substantial influence means any corporation or person which or who stands in such relationship to the public utility that there is an absence of free and equal bargaining power between it or him and the public utility.

(7)Every person or corporation who or which the commission may determine as a matter of fact after investigation and hearing is actually exercising such substantial influence over the policies and actions of such public utility in conjunction with one or more other corporations or persons, or both, with which or whom they are related by ownership or blood relationship, or both, or by action in concert that together they are affiliated with such public utility within the meaning of this section even though no one of them alone is so affiliated.

(b)Construction of section.-- The term "person" shall not be construed to exclude trustees, lessees, holders of beneficial equitable interest, voluntary associations, receivers and partnerships.

66c2101v

Cross References. Section 2101 is referred to in sections 1102, 1317, 1318 of this title.

66c2102s