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42 U.S.C. § 16452Federal access to books and records

submitted 21 years ago by Pub. L. 109-58 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 271 words · no verdicts yet

in plain englishAI-generated · not legal advice

Holding companies must share records the Commission needs about utility customer costs. This also applies to affiliate transactions and other companies in the same system. Commission staff must keep those records confidential.

(a) In general: Every holding company, and every associate company of it, must keep and make available to the Commission whatever books, accounts, memoranda, and other records the Commission determines are relevant to costs incurred by a public utility or natural gas company that is an associate company of that holding company, and necessary or appropriate for protecting utility customers with respect to jurisdictional rates. (b) Affiliate companies: Every affiliate of a holding company, or of any of its subsidiary companies, must keep and make available to the Commission records about any transaction with another affiliate, if the Commission determines they're relevant to costs incurred by an associate public utility or natural gas company, and necessary or appropriate for protecting utility customers with respect to jurisdictional rates. (c) Holding company systems: The Commission may examine the books, accounts, memoranda, and other records of any company (or affiliate) in a holding company system, if it determines they're relevant to costs incurred by a public utility or natural gas company within that system, and necessary or appropriate for protecting utility customers with respect to jurisdictional rates. (d) Confidentiality: No Commission member, officer, or employee may divulge any fact or information learned while examining these books, accounts, memoranda, or records, except as directed by the Commission or by a court of competent jurisdiction.
the actual law source: uscode.house.gov ↗public domain
(a) In general

Each holding company and each associate company thereof shall maintain, and shall make available to the Commission, such books, accounts, memoranda, and other records as the Commission determines are relevant to costs incurred by a public utility or natural gas company that is an associate company of such holding company and necessary or appropriate for the protection of utility customers with respect to jurisdictional rates.

(b) Affiliate companies

Each affiliate of a holding company or of any subsidiary company of a holding company shall maintain, and shall make available to the Commission, such books, accounts, memoranda, and other records with respect to any transaction with another affiliate, as the Commission determines are relevant to costs incurred by a public utility or natural gas company that is an associate company of such holding company and necessary or appropriate for the protection of utility customers with respect to jurisdictional rates.

(c) Holding company systems

The Commission may examine the books, accounts, memoranda, and other records of any company in a holding company system, or any affiliate thereof, as the Commission determines are relevant to costs incurred by a public utility or natural gas company within such holding company system and necessary or appropriate for the protection of utility customers with respect to jurisdictional rates.

(d) Confidentiality

No member, officer, or employee of the Commission shall divulge any fact or information that may come to his or her knowledge during the course of examination of books, accounts, memoranda, or other records as provided in this section, except as may be directed by the Commission or by a court of competent jurisdiction.

Source credit: (Pub. L. 109–58, title XII, § 1264, Aug. 8, 2005, 119 Stat. 974.)

history & why it existsrecord from the source credit
  • 2005Enacted · Pub. L. 109-58 · 119 Stat. 974

A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-58 on 2005-08-08.

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