NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 764

HOUSE BILL 982

AN ACT TO AUTHORIZE THE UTILITIES COMMISSION AND ITS EMPLOYEES TO INSPECT THE RECORDS OF CORPORATIONS AFFILIATED WITH PUBLIC UTILITIES DOING BUSINESS IN NORTH CAROLINA.

The General Assembly of North Carolina do enact:

Section 1.  Chapter 62 of the General Statutes is hereby amended by adding a new Section thereto to read as follows:

"G.S. 62-51.  To Inspect Books and Records of Corporations Affiliated with Public Utilities. The Utilities Commission and its employees are hereby authorized to inspect the books and records of corporations affiliated with public utilities regulated by the Utilities Commission under the provisions of this Chapter, including parent corporations and subsidiaries of parent corporations. This authorization shall extend to all reasonably necessary inspection of all books and records of account and agreements and transactions between public utilities doing business in North Carolina and their affiliated corporations where such records relate either directly or indirectly to the provision of intrastate service by the utility. The right to inspect such books and records shall apply both to books and records in the State of North Carolina and such books and records located outside of the State of North Carolina. If any such affiliated corporation shall refuse to permit such inspection of its books and records and its transactions with public utilities doing business in North Carolina, the Utilities Commission is empowered to order the public utility regulated in North Carolina to show cause why it should not secure from its affiliated corporation such books and records for inspection in North Carolina or why their franchise to operate as a public utility in North Carolina should not be cancelled."

Sec. 2.  All laws and clauses of law in conflict with the provisions of this Act are hereby repealed.

Sec. 3.  This Act shall be in full force and effect from and after September 15, 1969.

In the General Assembly read three times and ratified, this the 10th day of June, 1969.