56-84 - Application or petition by public service company and affiliates; hearing; action of Commission; conditions imposed on foreign corporations.
§ 56-84. Application or petition by public service company and affiliates;hearing; action of Commission; conditions imposed on foreign corporations.
In every case wherein the approval of the Commission is required of anycontract, arrangement, loan, extension or renewal thereof, assumption ofobligation or liability, renewal or extension thereof, or any transaction oract, an application or petition, duly executed and verified by any suchpublic service company and by each and every corporation, partnership,association or person constituting an affiliated interest, who are parties tosuch transaction or act, shall be presented to and filed with the Commissionwhich, upon hearing, either formal or informal, as may be determined by theCommission, may, in addition to passing upon the propriety of the proposedtransaction or act subject to approval under this chapter, pass upon allquestions of jurisdiction of the Commission and upon whether any party is, asa matter of fact and law, an affiliated interest. And in any such proceedingthe Commission may require, as a condition precedent to an approval or actionupon the proposed transaction or act, any other corporation, partnership,association or person which it appears to the Commission, prima facie, is ormight be an affiliated interest, to join, or to be joined, as a party to theproceeding. And the Commission may, in its discretion, impose any conditionas to obtaining a license to transact business in Virginia on the part of anyforeign corporation which it appears would contravene any provision ofArticle 17 (§ 13.1-757 et seq.) of Chapter 9 of Title 13.1 by the performanceof the proposed transaction or act or may require any such foreigncorporation to submit to the jurisdiction of the Commission under § 13.1-759or otherwise for a determination of such question, whenever the publicinterest and the due enforcement of this chapter and of other laws under thejurisdiction of the Commission appear to require such course.
(1938, p. 22; Michie Code 1942, § 3774i2.)