9-40-34. Judicial approval of rates charged during receivership--Criteria for establishment of rates.
73 words·~1 min read·
/sd/title-9/chapter-9-40/9-40-34·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The court appointing the receiver authorized by § 9-40-33 shall first approve such rates and in doing so the receiver and the court shall take into consideration the capital cost of such utility and the expenses reasonably required to operate and maintain the utility as well as any schedule of rates previously adopted by such municipality or fixed by a valid contract between the first or second class municipality and any third persons.