Laws: Cases and Codes : U.S. Code : Title 15
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U.S. Code as of:
01/19/04
Chapter 2C - Notes
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.
-SECREF-
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.
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