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Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide. Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
UTILITIES (220 ILCS 5/) Public Utilities Act. 220 ILCS 5/5-201
(220 ILCS 5/5-201) (from Ch. 111 2/3, par. 5-201)
Sec. 5-201.
In case any public utility shall do, cause to be done or permit
to be done any act, matter or thing prohibited, forbidden or declared to be
unlawful, or shall omit to do any act, matter or thing required to be done
either by any provisions of this Act or any rule, regulation, order or
decision of the Commission, issued under authority of this Act, the public
utility shall be liable to the persons or corporations affected thereby for
all loss, damages or injury caused thereby or resulting therefrom, and if
the court shall find that the act or omission was wilful, the court may in
addition to the actual damages, award damages for the sake of example and
by the way of punishment. An action to recover for such loss, damage or
injury may be brought in the circuit court by any person or corporation.
In every case of a recovery of damages by any person or corporation
under the provisions of this Section, the plaintiff shall be entitled to a
reasonable attorney's fee to be fixed by the court, which fee
shall be taxed and collected as part of the costs in the case.
No recovery as in this Section provided shall in any manner affect a
recovery by the State of the penalties in this Act provided.
(Source: P.A. 84-617.)
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220 ILCS 5/5-202
(220 ILCS 5/5-202) (from Ch. 111 2/3, par. 5-202)
Sec. 5-202.
Violations; penalty.
Any public utility, any corporation other than a public
utility, or any person acting as a public utility, that violates
or fails to comply with any provisions of this
Act or that fails to obey, observe, or comply with any
order, decision,
rule, regulation, direction, or requirement, or any part or provision
thereof, of the Commission, made or issued under authority of this Act,
in a case in which a penalty is not otherwise provided for in this Act,
shall be subject to a civil penalty imposed in the manner provided in
Section 4-203. A small public utility, as defined in subsection (b) of
Section 4-502 of this Act, is subject to a civil penalty of not less than
$500 nor more than
$2,000 for each and every offense. All other public utilities, corporations
other than a public utility, and persons acting as a public utility are subject
to a civil penalty of up to $30,000 for each and every offense, except as
provided in this Section and in Sections 13-101, 13-304, 13-305, and 5-202.1 of
this Act.
Every violation of the provisions of this Act or of any order,
decision, rule, regulation, direction, or requirement of the Commission,
or any part or portion thereof, by any corporation or person, is a
separate and distinct offense, provided, however, that if the same act or
omission violates more than one
provision of this Act, or of any order, decision, rule, regulation, direction,
or
requirement of the Commission, only one penalty or cumulative penalty may
be imposed for such act or omission. In case of a continuing violation, each
day's continuance thereof shall be a separate and distinct offense, provided,
however, that the cumulative penalty for any continuing violation shall not
exceed $500,000, except in the case of a small utility, as defined in
subsection (b) of Section 4-502 of this Act, in which case the cumulative
penalty for any continuing violation shall not exceed $35,000, and provided
further that these limits shall not apply where the violation was intentional
and either (i) created substantial risk to the safety of the utility's
employees or
customers or the public or (ii) was intended to cause economic benefits to
accrue to the violator.
In construing and enforcing the provisions of this Act relating to
penalties, the act, omission, or failure of any officer, agent, or
employee of any public utility, corporation other than a public utility, or
person acting as a public utility, that is acting within the scope of his
official
duties or employment, shall in every case be deemed to be the act,
omission, or failure of such public utility, corporation other than a public
utility, or person acting as a public utility.
If the party who has violated or failed to comply with this Act or an
order,
decision, rule, regulation, direction, or requirement of the Commission,
or any part or provision thereof, fails to seek timely review pursuant to
Sections 10-113 and 10-201 of this Act, the party shall, upon expiration of the
statutory time limit, be subject
to the civil penalty provision of this Section.
No penalties shall accrue under this provision until 15 days after the
mailing of a notice to such party or parties that they are in violation
of or have failed to comply with the Act or order, decision, rule, regulation,
direction, or requirement of the Commission or any part or provision thereof,
except that this notice provision shall not apply when the violation was
intentional.
(Source: P.A. 93-457, eff. 8-8-03.)
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220 ILCS 5/5-202.1
(220 ILCS 5/5-202.1)
Sec. 5-202.1. Misrepresentation before Commission; penalty.
(a) Any person or corporation, as defined in Sections 3-113 and 3-114 of
this Act, who knowingly misrepresents facts to the Commission in response to any Commission contact, inquiry or discussion or knowingly aids another in doing
so in response to any Commission contact, inquiry or discussion or knowingly permits another to
misrepresent facts through testimony or the offering or withholding of
material information in any
proceeding shall be subject to a civil penalty. Whenever
the Commission is of
the opinion that a person or corporation is misrepresenting or has
misrepresented facts,
the Commission may initiate a proceeding to determine
whether a misrepresentation has in fact occurred. If the Commission finds
that a person or corporation has violated this Section, the Commission shall
impose a penalty of not less than $1,000. Each
misrepresentation of a fact
found by the
Commission shall constitute a separate and distinct violation. In determining
the amount of the penalty to be assessed, the Commission may consider any
matters of record in aggravation or mitigation of the penalty, as set forth in
Section 4-203, including but not limited to the following:
(1) the presence or absence of due diligence on the | | part of the violator in attempting to comply with the Act;
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(2) any economic benefits accrued, or expected to be
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(3) the amount of monetary penalty that will serve to
| | deter further violations by the violator and to otherwise aid in enhancing voluntary compliance with the Act.
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(b) Any action to enforce civil penalties arising under this Section
shall
be undertaken pursuant to Section 4-203.
(c) For purposes of this Section, "Commission," as defined in Section 3-102, refers to any Commissioner, agent, or employee of the Illinois Commerce commission, and also refers to any other person engaged to represent the Commission in carrying out its regulatory or law enforcement obligations.
(Source: P.A. 99-906, eff. 6-1-17 .)
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220 ILCS 5/5-203
(220 ILCS 5/5-203) (from Ch. 111 2/3, par. 5-203)
Sec. 5-203.
Every person who, either individually, or acting as an officer,
agent, or employee of a public utility or of a corporation other than a public
utility, violates or fails to comply with any provisions of this Act, or
fails to observe, obey or comply with any order, decision, rule,
regulation, direction or requirement, or any part or portion thereof, of
the Commission, made or issued under authority of this Act, or who
procures, aids or abets any public utility in its violation of this Act or
in its failure to obey, observe or comply with this Act or any such order,
decision, rule, regulation, direction, or requirement, or any part or
portion thereof, in a case in which a penalty is not otherwise provided for
in this Act, is guilty of a Class A misdemeanor.
(Source: P.A. 84-617.)
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220 ILCS 5/Art. VI
(220 ILCS 5/Art. VI heading)
ARTICLE VI.
CAPITALIZATION
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220 ILCS 5/6-101
(220 ILCS 5/6-101) (from Ch. 111 2/3, par. 6-101)
Sec. 6-101.
The power of public utilities to issue stocks, stock
certificates, bonds, notes and other evidences of indebtedness and to create
liens on their property is a special privilege, the right of supervision,
regulation, restriction and control of which is and shall continue to be
vested in the State, and such power shall be exercised by the Commission
hereby created according to the provisions of this Act and under such rules
and regulations as the Commission may prescribe.
The Commission shall provide, by serial number or other device to be
placed on the face thereof, for the proper and easy identification of such
stocks, stock certificates, bonds, notes and other evidences of indebtedness
as may be issued by public utilities under the provisions of this article.
(Source: P.A. 84-617.)
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220 ILCS 5/6-102
(220 ILCS 5/6-102) (from Ch. 111 2/3, par. 6-102)
Sec. 6-102. Authorization of issues of stock.
(a) Subject to the provisions of this Act and of the order of the
Commission issued as provided in this Act, a public utility may issue
stocks and stock certificates, and bonds, notes and other evidences of
indebtedness payable at periods of more than 12 months after the date
thereof for any lawful purpose. However, such public utility
shall first have secured from the Commission an order authorizing such
issue and stating the amount thereof and the purpose or purposes to which
the issue or the proceeds thereof are to be applied, and that in the
opinion of the Commission, the money, property or labor to be procured or
paid for by such issue is reasonably required for the purpose or purposes
specified in the order.
(b) The provisions of this subsection (b) shall apply
only to (1) any issuances of stock in a cumulative amount,
exclusive of any issuances referred to in item (3), that are
10% or more in a calendar year or 20% or more in a 24-month
period of the total common stockholders' equity or of the
total amount of preferred stock outstanding, as the case may
be, of the public utility, and (2) to any issuances of bonds,
notes or other evidences of indebtedness in a cumulative
principal amount, exclusive of any issuances referred to in
item (3), that are 10% or more in a calendar year or 20% or
more in a 24-month period of the aggregate principal amount of
bonds, notes and other evidences of indebtedness of the public
utility outstanding, all as of the date of the issuance, but
shall not apply to (3) any issuances of stock or of bonds,
notes or other evidences of indebtedness 90% or more of the
proceeds of which are to be used by the public utility for
purposes of refunding, redeeming or refinancing outstanding
issues of stock, bonds, notes or other evidences of
indebtedness.
To enable it to determine whether it will issue the
order required by subsection (a) of this Section, the Commission may hold a hearing and may make such additional
inquiry or investigation, and examine such witnesses, books, papers,
accounts, documents and contracts and require the filing of such data as it
may deem of assistance. The public utility may be required by the
Commission to disclose every interest of the directors of such public
utility in any transaction under investigation. The Commission shall have
power to investigate all such transactions and to inquire into the good
faith thereof, to examine books, papers, accounts, documents and contracts
of public utilities, construction or other companies or of firms or
individuals with whom the public utility shall have had financial
transactions, for the purpose of enabling it to verify any statements
furnished, and to examine into the actual value of property acquired by or
services rendered to such public utility. Before issuing its order, the
Commission, when it is deemed necessary by the Commission, shall make an
adequate physical valuation of all property of the public utility, but a
valuation already made under proper public supervision may be adopted,
either in whole or in part, at the discretion of the Commission; and shall
also examine all previously authorized or outstanding securities of the
public utility, and fixed charges attached thereto. A statement of the
results of such physical valuation, and a statement of the character of all
outstanding securities, together with the conditions under which they are
held, shall be included in the order. The Commission may require that such
information or such part thereof as it thinks proper, shall appear upon the
stock, stock certificate, bond, note or other evidence of indebtedness
authorized by its order. The Commission may by its order grant permission
for the issue of such stock certificates, or bonds, notes or other
evidences of indebtedness in the amount applied for, or in a lesser amount,
or not at all, and may attach to the exercise of its permission such
condition or conditions as it may deem reasonable and necessary.
Nothing in this Section shall prevent a public utility from seeking, nor
the Commission from approving, a shelf registration plan for issuing
securities over a reasonable period in accordance with regulations
established by the United States Securities and Exchange Commission. Any
securities issued pursuant to an approved shelf registration plan need not
be further approved by the Commission so long as they are in compliance
with the approved shelf registration plan. The
Commission shall have the power to refuse its approval of applications to
issue securities, in whole or in part, upon a finding that the issue of
such securities would be contrary to public interest. The Commission may
also require the public utility to compile for the information of its
shareholders such facts in regard to its financial transactions, in such
form as the Commission may direct.
No public utility shall, without the consent of the Commission, apply
the issue of any stock or stock certificates, or bond, note or other
evidence of indebtedness, which was issued pursuant to an order of the
Commission entered pursuant to this subsection (b), or any part thereof, or
any proceeds thereof, to
any purpose not specified in the Commission's order or to any purpose
specified in the Commission's order in excess of the amount authorized for
such purpose; or issue or dispose of the same on any terms less favorable
than those specified in such order, or a modification thereof. The
Commission shall have the power to require public utilities to account for
the disposition of the proceeds of all sales of stocks and stock certificates,
and bonds, notes and other evidences of indebtedness, which were issued
pursuant to an order of the Commission entered pursuant to this subsection
(b), in such form and detail
as it may deem advisable, and to establish such rules and regulations as it
may deem reasonable and necessary to insure the disposition of such
proceeds for the purpose or purposes specified in its order.
(c) A public utility may issue notes, for proper purposes, and not in
violation of any provision of this Act or any other Act, payable at periods
of not more than 12 months after the date of issuance of the same, without
the consent of the Commission; but no such note shall, in whole or in part,
be renewed or be refunded from the proceeds of any other such note or
evidence of indebtedness from time to time without the consent of the
Commission for an aggregate period of longer than 2 years.
A "telecommunications carrier" as that term is defined by Section 13-202
of this Act is exempt from the requirements of this subsection (c).
(d) Any issuance of stock or of bonds, notes or other
evidences of indebtedness, other than issuances of notes
pursuant to subsection (c) of this Section, which is not
subject to subsection (b) of this Section, shall be regulated
by the Commission as follows: the public utility shall file
with the Commission, at least 15 days before the date of the
issuance, an informational statement setting forth the type
and amount of the issue and the purpose or purposes to which
the issue or the proceeds thereof are to be applied. Prior to
the date of the issuance specified in the public utility's
filing, the Commission, if it finds that the issuance is not
subject to subsection (b) of this Section, shall issue a
written order in conformance with subsection (a) of this
Section authorizing the issuance. Notwithstanding any other
provisions of this Act, the Commission may delegate its
authority to enter the order required by this subsection (d)
to an administrative law judge.
(e) The Commission shall have no power to authorize the capitalization
of
the right to be a corporation, or to authorize the capitalization of any
franchise, license, or permit whatsoever or the right to own, operate or
enjoy any such franchise, license, or permit, in excess of the amount
(exclusive of any tax or annual charge) actually paid to the State or to a
political subdivision thereof as the consideration for the grant of such
franchise, license, permit or right; nor shall any contract for
consolidation or lease be capitalized, nor shall any public utility
hereafter issue any bonds, notes or other evidences of indebtedness against
or as a lien, upon any contract for consolidation or merger.
(f) The provisions of this Section shall not apply to public utilities
which
are not corporations duly incorporated under the laws of this State to the
extent that any such public utility may issue stock, bonds, notes or other
evidences of indebtedness not directly or indirectly constituting or
creating a lien or charge on, or right to profits from, any property used
or useful in rendering service within this State.
(Source: P.A. 100-840, eff. 8-13-18.)
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220 ILCS 5/6-103
(220 ILCS 5/6-103) (from Ch. 111 2/3, par. 6-103)
Sec. 6-103.
The capitalization of a public utility formed by a merger or
consolidation of two or more corporations shall be subject to the approval
of the Commission, but in no event shall the Commission approve a
capitalization exceeding the sum of the capital stock of the corporations
so consolidated, at the par value thereof, and any additional sum actually
paid in cash for improvements; nor shall any contract for consolidation or
lease be capitalized in the stock of any corporation whatever; nor shall
any corporation hereafter issue any bonds against or as a lien upon any
contract for consolidation or merger. In any reorganization of a public
utility, resulting from forced sale, or in any other manner, the amount of
capitalization, including therein all stocks and stock certificates and
bonds, notes and other evidences of indebtedness, shall be such as is
authorized by the Commission, which in making its determination, shall not
exceed the fair value of the property involved. Issuance of stocks and
stock certificates, and bonds, notes or other evidences of indebtedness in
connection with any consolidation, merger, or reorganization shall be
subject to all the terms of Sections 6-101 and 6-102 of this Act.
(Source: P.A. 84-617.)
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220 ILCS 5/6-104
(220 ILCS 5/6-104) (from Ch. 111 2/3, par. 6-104)
Sec. 6-104.
All stock and every stock certificate, and every bond, note or
other evidence of indebtedness, of a public utility, not payable within
twelve months issued without an order of the Commission authorizing the
same then in effect shall be void, unless issued upon the authority of any
articles of incorporation or amendments thereto, and of a vote of the
stockholders or directors, filed and taken before January 1, 1914, and
likewise all stock and every stock certificate, and every bond, note or
other evidence of indebtedness of a public utility not payable within
12 months, issued with the authorization of the Commission, but not
conforming in its provisions to the provisions, if any, which it is
required by the order of authorization of the Commission to contain, shall
be void; but no failure in any other respect to comply with the terms or
conditions of the order of authorization of the Commission shall render
void any stock or stock certificate, or any bond, note or other evidence of
indebtedness, except as to a corporation or person taking the same with
notice of the failure to comply with the order of the Commission.
(Source: P.A. 84-617.)
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220 ILCS 5/6-105
(220 ILCS 5/6-105) (from Ch. 111 2/3, par. 6-105)
Sec. 6-105.
Every public utility which, directly or indirectly, issues or
causes to be issued, any stock, stock certificate, bond, note or other
evidence of indebtedness, in non-conformity with the order of the
Commission authorizing the same, or contrary to the provisions of this Act,
or which applies the proceeds from the sale thereof, or any part thereof,
to any purpose other than the purpose or purposes specified in the
Commission's order, as herein provided, or to any purpose specified in the
Commission's order in excess of the amount authorized for such purpose,
shall be guilty of a business offense and shall be subject to a penalty of
not less than $500 nor more than $20,000 for each offense.
(Source: P.A. 84-617.)
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220 ILCS 5/6-106
(220 ILCS 5/6-106) (from Ch. 111 2/3, par. 6-106)
Sec. 6-106.
Every officer, agent or employee of a public utility, and every
other person who knowingly authorizes, directs, issues or executes, causes
to be issued or executed, or aids in the issue or execution of any stock,
stock certificate, bond, note or other evidence of indebtedness, in
nonconformity with the order of the Commission authorizing the same, or
contrary to the provisions of this Act; or who, in any proceeding before
the Commission, knowingly makes any false statement or representation, or
with the knowledge of its falsity files or causes to be filed with the
Commission any false statement or representation, which said statement or
representation so made, filed or cause to be filed, may tend in any way to
influence the Commission to make an order authorizing the issue of any
stock or stock certificate, or any bond, note or other evidence of
indebtedness, or which results in procuring from the Commission the making
of any such order, or who, with knowledge that any false statement or
representation was made to the Commission, in any proceeding, tending in
any way to influence the Commission to make such order, issues or executes
or negotiates, or causes to be issued, executed or negotiated any such
stock or stock certificate, or bond, note or other evidence of
indebtedness, or who, directly or indirectly, knowingly applies, or causes
or assists to be applied the proceeds or any part thereof, from the sale of
any stock or stock certificate, or bond, note or other evidence of
indebtedness, to any purpose not specified in the Commission's order or to
any purpose specified in the Commission's order in excess of the amount
authorized for such purpose, or who, with knowledge that any stock or stock
certificate, or bond, note or other evidence of indebtedness, has been
issued or executed in violation of any of the provisions of this Act,
negotiates, or causes the same to be negotiated, shall be guilty of a Class
3 felony.
(Source: P.A. 84-617.)
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220 ILCS 5/6-107
(220 ILCS 5/6-107) (from Ch. 111 2/3, par. 6-107)
Sec. 6-107.
No provisions of this Act, and no deed or act done or performed
under or in connection therewith, shall be held or construed to obligate
the State of Illinois to pay or guarantee, in any manner whatsoever, any
stock or stock certificate, or bond, note or other evidence of
indebtedness, authorized, issued or executed under the provisions of this
Act, nor shall it be held or construed to imply any validation or approval
by the State of past issues, nor that past or future or past and future
issues represent actual value of property owned or to be owned by a public
utility or the value of such property for rate making purposes.
(Source: P.A. 84-617.)
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220 ILCS 5/6-108
(220 ILCS 5/6-108) (from Ch. 111 2/3, par. 6-108)
Sec. 6-108.
The Commission shall charge every public utility receiving
permission under this Act for the issue of stocks, bonds, notes and other
evidences of indebtedness an amount equal to 12 cents for every $100
of the
par or stated value of stocks, and 24 cents for every $100 of the
principal
amount of bonds, notes or other evidences of indebtedness, authorized by
the Commission, which shall be paid to the Commission no later than 30
days after service of the Commission order authorizing the issuance of
those stocks, bonds, notes or other evidences of indebtedness. Provided, that
if any such stock, bonds, notes or other evidences of indebtedness constitutes
or creates a lien or charge on, or right to profits from, any property not
situated in this State, this fee shall be paid only on the amount of any such
issue which is the same proportion of the whole issue as the property situated
in this State is of the total property on which such securities issue creates a
lien or charge, or from which a right to profits is established; and provided
further, that no public utility shall be required to pay any fee for permission
granted to it by the Commission in any of the following cases:
(1) To guarantee bonds or other securities.
(2) To issue bonds, notes or other evidences of indebtedness issued for
the purpose of converting, exchanging, taking over, refunding, discharging
or retiring any bonds, notes or other evidences of indebtedness except:
(a) When issued for an aggregate period of longer | | than 2 years for the purpose of converting, exchanging, taking over, refunding, discharging or retiring any note, or renewals thereof, issued without the consent of the State Public Utilities Commission of Illinois or the Public Utilities Commission or the Illinois Commerce Commission; or
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(b) When issued for the purpose of converting,
| | exchanging, taking over, refunding, discharging or retiring bonds, notes or other evidences of indebtedness issued prior to January 1, 1914, and upon which no fee has been previously paid.
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(3) To issue shares of stock upon the conversion of convertible bonds,
notes or other evidences of indebtedness or upon the conversion of
convertible stock of another class in accordance with a conversion
privilege contained in such convertible bonds, notes or other evidences of
indebtedness or contained in such convertible stock, as the case may be,
where a fee (in the amount payable under this Section in the case of
evidences of indebtedness) has been previously paid for the issuance of
such convertible bonds, notes or other evidences of indebtedness, or where
a fee (in the amount payable under this Section in the case of stocks) has
been previously paid for the issuance of such convertible stock, or where
such convertible stock was issued prior to July 1, 1951 and upon which no
fee has been previously paid, as the case may be.
(4) To issue shares of stocks for the purpose of redeeming or otherwise
retiring, or in exchange for, other stocks, where the fee for the issuance
of such other stocks has been previously paid, or where such other stocks
were issued prior to July 1, 1951 and upon which no fee has been previously
paid, as the case may be, but only to the extent that the par or stated
value of the shares of stock so issued does not exceed the par or stated
value of the other stocks redeemed or otherwise retired or exchanged.
All fees collected by the Commission under this Section shall be paid
within 10 days after the receipt of the same, accompanied by a detailed
statement of the same, into the Public Utility Fund in the State treasury.
(Source: P.A. 93-32, eff. 7-1-03.)
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220 ILCS 5/Art. VII
(220 ILCS 5/Art. VII heading)
ARTICLE VII.
INTERCORPORATE RELATIONS
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220 ILCS 5/7-101
(220 ILCS 5/7-101) (from Ch. 111 2/3, par. 7-101)
Sec. 7-101.
Transactions with affiliated interests.
(1) The Commission shall have jurisdiction over holders of the
voting capital stock of all public utilities under the jurisdiction of the
Commission to such extent as may be necessary to enable the Commission to
require the disclosure of the identity in respective interests of every owner
of any substantial interest in such voting capital stocks. One per centum
or more is a substantial interest, within the meaning of this subdivision.
(2) (i) Except as provided in subparagraph (ii) of this subsection (2),
the Commission shall have jurisdiction over affiliated interests having
transactions, other than ownership of stock and receipt of dividends thereon,
with public utilities under the jurisdiction of the Commission, to the extent
of access to all accounts and records of such affiliated interests relating
to such transactions, including access to accounts and records of joint or
general expenses, any portion of which may be applicable to such transactions;
and to the extent of authority to require such reports with respect to such
transactions to be submitted by such affiliated interests, as the Commission
may prescribe.
(ii) The Commission shall have jurisdiction over affiliated interests
having transactions, other than ownership of stock and receipt of dividends
thereon, with electric and gas public utilities under the jurisdiction of the
Commission, to the extent of access to all accounts and records of such
affiliated interests relating to such transactions, including access to
accounts and records of joint and general expenses with the electric or gas
public utility any portion of which is related to such transactions; and to the
extent of authority to require such reports with respect to such transactions
to be submitted by such affiliated interests, as the Commission may prescribe;
provided, however, that prior to requesting such access or reports from the
affiliated interest, the Commission shall first seek to obtain the information
that would be included in such accounts, records or reports from the public
utility. The Commission shall not have access to any accounts and records of,
or require any reports from, an affiliated interest that are not related to a
transaction, including without limitation a transfer or exchange of tangible or
intangible assets, with the electric or gas public utility. Nothing in this
paragraph shall limit the authority of the Commission otherwise provided under
this Act to have access to accounts and records of, or to require reports from,
the electric or gas public utility or to prescribe guidelines which the
electric or gas public utility must follow in allocating costs to transactions
with affiliated interests.
For the purpose of this Section, the phrase "affiliated
interests" means:
(a) Every corporation and person owning or holding, | | directly or indirectly, 10% or more of the voting capital stock of such public utility;
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(b) Every corporation and person in any chain of
| | successive ownership of 10% or more of voting capital stock;
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(c) Every corporation, 10% or more of whose voting
| | capital stock is owned by any person or corporation owning 10% or more of the voting capital stock of such public utility, or by any person or corporation in any such chain of successive ownership of 10% or more of voting capital stock;
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(d) Every corporation, 10% or more of whose voting
| | securities is owned, directly or indirectly by such public utility;
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(e) Every person who is an elective officer or
| | director of such public utility or of any corporation in any chain of successive ownership of 10% or more of voting capital stock;
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(f) Every corporation which has one or more elective
| | officers or one or more directors in common with such public utility;
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(g) Every corporation or person which the Commission
| | may determine as a matter of fact after investigation and hearing is actually exercising any substantial influence over the policies and actions of such public utility even though such influence is not based upon stock holding, stockholders, directors or officers to the extent specified in this Section;
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(h) Every person or corporation who or which the
| | Commission may determine as a matter of fact after investigation and hearing is actually exercising such substantial influence over the policies and actions of such public utility in conjunction with one or more other corporations or persons with which or whom they are related by ownership or blood relationship or by action in concert that together they are affiliated with such public utility within the meaning of this Section even though no one of them alone is so affiliated.
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No such person or corporation is affiliated within the meaning of this
Section however, if such person or corporation is otherwise subject to
the jurisdiction of the Commission or such person or corporation has not had
transactions or dealings other than the holding of stock and the receipt of
dividends thereon with such public utility during the 2 year period next
preceding.
(3) No management, construction, engineering, supply, financial or similar
contract and no contract or arrangement for the purchase, sale, lease or
exchange of any property or for the furnishing of any service, property
or thing, hereafter made with any affiliated interest, as hereinbefore defined,
shall be effective unless it has first been filed with and consented to
by the Commission or is exempted in accordance with the provisions of this
Section or of Section 16-111 of this Act. The Commission may condition such
approval
in such manner
as it may deem necessary to safeguard the public interest. If it be found
by the Commission, after investigation and a hearing, that any such contract
or arrangement
is not in the public interest, the Commission may disapprove such contract or
arrangement.
Every contract or arrangement not consented to or excepted by the Commission
as provided for in this Section is void.
The consent to, or exemption or waiver of consent to, any contract or
arrangement under this Section or Section 16-111,
does not
constitute approval of payments thereunder for the purpose of computing
expense of operation in any rate proceeding. However, the Commission shall
not require a public utility to make purchases at prices exceeding the prices
offered by an affiliated interest, and the Commission shall not be required
to disapprove or disallow, solely on the ground that such payments yield
the affiliated interest a return or rate of return in excess of that allowed
the public utility, any portion of payments for purchases from an affiliated
interest.
(4) The Commission may by general rules applicable alike to all public
utilities affected thereby waive the filing and necessity for approval of
contracts and arrangements described in subparagraph (3) of this Section in
cases of (a) contracts or arrangements made in the ordinary course of business
for the employment of officers or employees; (b) contracts or arrangements
made in the ordinary course of business for the purchase of services, supplies,
or other personal property at prices not exceeding the standard or prevailing
market prices, or at prices or rates fixed pursuant to law; (c) contracts
or arrangements where the total obligation to be incurred under such contract
or arrangement does
not exceed the lesser of (i) $5,000,000 or (ii) 2% of the public utility's
receipts from all tariffed services (as defined in Article XVI) in the
preceding calendar year; (d) the temporary leasing, lending or interchanging of
equipment in the ordinary course of business or in case of an emergency;
and (e) contracts made by a public utility with a person or corporation
whose bid is the most favorable to the public utility, as ascertained by
competitive bidding.
If the Commission, after a hearing, finds that any public utility is abusing
or has abused such general rule and thereby is evading compliance with the
standard established herein, the Commission may require such public utility
to thereafter file and receive the Commission's approval upon all such
transactions, but that general rule shall remain in full force and effect
as to all other public utilities.
(Source: P.A. 90-561, eff. 12-16-97.)
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220 ILCS 5/7-102
(220 ILCS 5/7-102) (from Ch. 111 2/3, par. 7-102)
Sec. 7-102.
Transactions requiring Commission approval.
(A) Unless the
consent and approval of the Commission is first
obtained or unless such approval is waived by the Commission or is exempted
in
accordance with the provisions of this Section or of any other Section of
this Act:
(a) No 2 or more public utilities may enter into | | contracts with each other that will enable such public utilities to operate their lines or plants in connection with each other.
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(b) No public utility may purchase, lease, or in any
| | other manner acquire control, direct or indirect, over the franchises, licenses, permits, plants, equipment, business or other property of any other public utility.
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(c) No public utility may assign, transfer, lease,
| | mortgage, sell (by option or otherwise), or otherwise dispose of or encumber the whole or any part of its franchises, licenses, permits, plant, equipment, business, or other property, but the consent and approval of the Commission shall not be required for the sale, lease, assignment or transfer (1) by any public utility of any tangible personal property which is not necessary or useful in the performance of its duties to the public, or (2) by any railroad of any real or tangible personal property.
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(d) No public utility may by any means, direct or
| | indirect, merge or consolidate its franchises, licenses, permits, plants, equipment, business or other property with that of any other public utility.
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(e) No public utility may purchase, acquire, take or
| | receive any stock, stock certificates, bonds, notes or other evidences of indebtedness of any other public utility.
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(f) No public utility may in any manner, directly or
| | indirectly, guarantee the performance of any contract or other obligation of any other person, firm or corporation whatsoever.
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(g) No public utility may use, appropriate, or divert
| | any of its moneys, property or other resources in or to any business or enterprise which is not, prior to such use, appropriation or diversion essentially and directly connected with or a proper and necessary department or division of the business of such public utility; provided that this subsection shall not be construed as modifying subsections (a) through (e) of this Section.
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(h) No public utility may, directly or indirectly,
| | invest, loan or advance, or permit to be invested, loaned or advanced any of its moneys, property or other resources in, for, in behalf of or to any other person, firm, trust, group, association, company or corporation whatsoever, except that no consent or approval by the Commission is necessary for the purchase of stock in development credit corporations organized under the Illinois Development Credit Corporation Act, providing that no such purchase may be made hereunder if, as a result of such purchase, the cumulative purchase price of all such shares owned by the utility would exceed one-fiftieth of one per cent of the utility's gross operating revenue for the preceding calendar year.
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(B) Any public utility may present to the Commission for
approval
options or contracts to sell or lease real property, notwithstanding
that the value of the property under option may have changed between the
date of the option and the subsequent date of sale or lease. If the
options or contracts are approved by the Commission, subsequent sales or
leases in conformance with those options or contracts may be made by the
public utility without any further action by the Commission. If approval
of the options or contracts is denied by the Commission, the options or
contracts are void and any consideration theretofore paid to the public
utility must be refunded within 30 days following disapproval of the
application.
(C) The proceedings for obtaining the approval of the Commission
provided
for in this Section shall be as follows: There shall be filed with
the Commission a petition, joint or otherwise, as the case may be,
signed and verified by the president, any vice president, secretary,
treasurer, comptroller, general manager, or chief engineer of the
respective companies, or by the person or company, as the case may be,
clearly setting forth the object and purposes desired, and setting forth
the full and complete terms of the proposed assignment, transfer, lease,
mortgage, purchase, sale, merger, consolidation, contract or other
transaction, as the case may be. Upon the filing of such petition, the
Commission shall, if it deems necessary, fix a time and place for the
hearing thereon. After such hearing, or in case no hearing is required,
if the Commission is satisfied that such petition should reasonably be
granted, and that the public will be convenienced thereby, the
Commission shall make such order in the premises as it may deem proper
and as the circumstances may require, attaching such conditions as it
may deem proper, and thereupon it shall be lawful to do the things
provided for in such order. The Commission shall impose such conditions
as will protect the interest of minority and preferred stockholders.
(D) The Commission shall have power by general rules applicable alike to
all public utilities, other than electric and gas public utilities,
affected thereby to waive the filing and necessity
for approval of the following: (a) sales of property involving a
consideration of not more than $300,000 for utilities with gross revenues in
excess of $50,000,000 annually and a consideration of not more than
$100,000 for all other utilities; (b) leases, easements and
licenses involving a consideration or rental of not more than $30,000 per
year for utilities with gross revenues in excess of $50,000,000 annually and
a
consideration or rental of not more than $10,000 per
year for all other utilities; (c) leases of office building space not
required by
the public
utility in rendering service to the public; (d) the temporary leasing,
lending or interchanging of equipment in the ordinary course of business
or in case of an emergency; and (e) purchase-money mortgages given by a
public utility in connection with the purchase of tangible personal
property where the total obligation to be secured shall be payable
within a period not exceeding one year. However, if the
Commission,
after a hearing, finds that any public utility to which such rule is
applicable is abusing or has abused
such general rule and thereby is evading compliance with the standard
established herein, the Commission shall have power to require such
public utility to thereafter file and receive the Commission's approval
upon all such transactions as described in this Section, but such
general rule shall remain in full force and effect as to all other
public utilities to which such rule is applicable.
(E) The filing of, and the consent and approval of the Commission for,
any
assignment, transfer, lease, mortgage, purchase, sale, merger, consolidation,
contract or other transaction by an electric or gas public utility with gross
revenues in all jurisdictions of $250,000,000 or more annually involving a sale
price or annual consideration in an amount of $5,000,000 or less shall not be
required. The Commission shall also have the authority, on petition by an
electric or gas public utility with gross revenues in all jurisdictions of
$250,000,000 or more annually, to establish by order higher thresholds than the
foregoing for the requirement of approval of transactions by the Commission
pursuant to this Section for the electric or gas public utility, but no greater
than 1% of the electric or gas public utility's average total gross utility
plant in service in the case of sale, assignment or acquisition of property, or
2.5% of the electric or gas public utility's total revenue in the case of
other sales price or annual consideration, in each case based on the preceding
calendar year, and subject to the power of the Commission, after notice and
hearing, to further revise those thresholds at a later date. In addition to
the foregoing, the Commission shall have power by general rules applicable
alike to all electric and gas public utilities affected thereby to waive the
filing and necessity for approval of the following: (a) sales of property
involving a consideration of $100,000 or less for electric and gas utilities
with gross revenues in all jurisdictions of less than $250,000,000 annually;
(b)
leases, easements and licenses involving a consideration or rental of not more
than $10,000 per year for electric and gas utilities with gross revenues in all
jurisdictions of less than $250,000,000 annually; (c) leases of office building
space not required by the electric or gas public utility in rendering service
to the public; (d) the temporary leasing, lending or interchanging of equipment
in the ordinary course of business or in the case of an emergency; and (e)
purchase-money mortgages given by an electric or gas public utility in
connection with the purchase of tangible personal property where the total
obligation to be secured shall be payable within a period of one year or less.
However, if the Commission, after a hearing, finds that any electric or gas
public utility is abusing or has abused such general rule and thereby is
evading compliance with the standard established herein, the Commission shall
have power to require such electric or gas public utility to thereafter file
and receive the Commission's approval upon all such transactions as described
in this Section and not exempted pursuant to the first sentence of this
paragraph or to subsection (g) of Section 16-111 of this Act, but such general
rule shall remain in full force and effect as to all other electric and gas
public utilities.
Every assignment, transfer, lease, mortgage, sale or other
disposition or encumbrance of the whole or any part of the franchises,
licenses, permits, plant, equipment, business or other property of any
public utility, or any merger or consolidation thereof, and every
contract, purchase of stock, or other transaction referred to in this
Section and not exempted in accordance with the provisions of the immediately
preceding paragraph of this Section, made otherwise than in accordance with
an order
of the
Commission authorizing the same, except as provided in this Section,
shall be void. The provisions of this Section shall not apply to any
transactions by or with a political subdivision or municipal corporation
of this State.
(F) The provisions of this Section do not apply to the purchase or sale
of
emission allowances created under and defined in Title IV of the federal Clean
Air Act Amendments of 1990 (P.L. 101-549), as amended.
(Source: P.A. 90-561, eff. 12-16-97; 91-357, eff. 7-29-99.)
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220 ILCS 5/7-103
(220 ILCS 5/7-103) (from Ch. 111 2/3, par. 7-103)
Sec. 7-103.
(1) Whenever the Commission finds that the capital of any public
utility has become impaired, or will be impaired by the payment of a
dividend, the Commission shall have power to order said public utility to
cease and desist the declaration and payment of any dividend upon its
common and preferred stock, and no such public utility shall pay any
dividend upon its common and preferred stock until such impairment shall
have been made good.
(2) No utility shall pay any dividend upon its common stock and
preferred stock unless:
(a) The utility's earnings and earned surplus are sufficient to declare
and pay same after provision is made for reasonable and proper reserves.
(b) The dividend proposed to be paid upon such common stock can
reasonably be declared and paid without impairment of the ability of the
utility to perform its duty to render reasonable and adequate service at
reasonable rates.
(c) It shall have set aside the depreciation annuity prescribed by the
Commission or a reasonable depreciation annuity if none has been prescribed.
If any dividends on common stock are proposed to be declared and paid
other than as above provided, the utility shall give the Commission at
least thirty days' notice in writing of its intention to so declare and pay
such dividends and the Commission shall authorize the payment of such
dividends only if it finds that the public interest requires such payment.
Provided, however, that the Commission may grant such authority upon such
conditions as it may deem necessary to safeguard the public interest.
(Source: P.A. 84-617.)
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220 ILCS 5/7-104
(220 ILCS 5/7-104) (from Ch. 111 2/3, par. 7-104)
Sec. 7-104.
In a proceeding before the Commission in which the consent and approval
of the Commission to the sale, lease or other disposition of any real
property owned by a public utility is sought, any tenant in possession who
has been in possession of such property for more than 5 years and who has
made substantial improvements to the property has standing to appear and
offer evidence to the Commission with respect to the proposed disposition,
and the Commission, in making its determination, shall consider the rights
and equities of such tenant in possession.
(Source: P.A. 84-617; 84-1025.)
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220 ILCS 5/7-105
(220 ILCS 5/7-105)
Sec. 7-105.
(a) Notwithstanding anything to the contrary in Sections 6-103,
7-101, 7-102, 7-203, 7-204, and 7-204A of this Act or any rule or regulation
promulgated by the Commission, a public utility providing electric service to
more than 500,000 customers in this State may, within 550 days after the
effective date of this amendatory Act of 1993 or any extension of time pursuant
to Section 7-106 of this Act, without the approval or consent of, or prior
filing for the approval or consent of, the Commission:
(i) engage in only those transactions as are | | reasonably necessary to create a holding company and make the public utility a subsidiary company of the holding company; and
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(ii) loan to such holding company prior to the 60th
| | day after the day on which such public utility becomes a subsidiary company of the holding company, amounts which, in the aggregate, do not exceed the lesser of $10,000,000 or 2.5% of the retained earnings of the public utility as reported on its most recent annual report to the Commission.
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(b) The terms of transactions authorized by Section 7-105(a)(i) shall
require that the holding company pay, or reimburse the public utility for, all
expenses incurred, services rendered, or facilities provided by the public
utility engaging in such transactions. Such public utility shall incur no
liabilities in or in connection with such transactions other than expenses
incurred to effect such transactions. The terms of any loan authorized by
Section 7-105(a)(ii) shall require that the loan (i) be repaid no later than
the 240th day after the public utility becomes a subsidiary company of the
holding company and (ii) bear interest at the rate of 10% per annum.
Contracts or arrangements between the public utility and any of its affiliates,
including the holding company, other than as authorized by Section 7-105(a),
shall be subject to the jurisdiction of the Commission under Sections 7-101,
7-102, 7-204A(b), and other applicable provisions, if any, of this Act.
(c) Costs incurred by a public utility in effecting or attempting to effect
any transaction authorized by this Section 7-105 shall not be included in rate
base or treated as allowable expenses for purposes of determining the rates to
be charged by the public utility.
(d) Not later than the earlier of (i) the 30th day after a public utility or
a company which seeks to become a holding company of such public utility in
accordance with this Section 7-105 files any registration statement or
application with any federal regulatory agency seeking authority for a
transaction in which such public utility would become a subsidiary of such
holding company or (ii) the 180th day after the effective date of this
amendatory Act of 1993, such public utility or holding company shall file with
the Commission, for the information of the Commission and the public, the
information, to the extent available to such public utility or company on such
day, described in Section 7-204A(a) of this Act, and such public utility or
company shall, until the day on which such public utility becomes a
subsidiary of a holding company, file with the Commission all additional such
information, and corrections, amendments, or supplements to all previously
filed such information, as soon as practicable after it becomes available to
such public utility or company; provided, that nothing in this Section 7-105
eliminates or restricts the Commission's authority, on timely motion of any
person or corporation, to enter an order to protect confidential, proprietary,
or trade secret data or information filed with the Commission.
(e) As used in Sections 7-105 and 7-106 of this Act, "subsidiary company"
and "holding company" mean a "subsidiary company" and a "holding company" as
defined in the Public Utility Holding Company Act of 1935, as amended.
(Source: P.A. 88-83.)
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220 ILCS 5/7-106
(220 ILCS 5/7-106)
Sec. 7-106.
(a) Subject to the limitations contained in this Section
7-106, and notwithstanding anything to the contrary in Section 6-103 and
items (f), (g), and (h) of subsection (A) of
Section 7-102 of this Act or any rule or
regulation promulgated by the Commission under this Act, a public utility that
has filed, pursuant to Section 7-105(d) of this Act, the information described
in Section 7-204A(a) of this Act, may, without the approval
or consent of, or other prior filing with, the Commission, form, invest moneys
denominated in United States dollars in, and guarantee contractual obligations
of a subsidiary which engages in any business that provides to persons,
corporations, municipal corporations, or other entities that are customers or
potential customers of the public utility (i) heating, cooling, or lighting
services; (ii) energy management services; or (iii) design, development,
construction, engineering, financial, maintenance, management, or consulting
services for owners, lessees, managers, or operators of facilities for the
generation, transmission, or distribution of electricity; each such subsidiary
is referred to in this Act as a "Section 7-106 subsidiary".
(b) Prior to investing in or guaranteeing any contractual obligations of
a Section 7-106 subsidiary, the utility shall file with the Commission a
statement identifying all public utility assets or information in existence,
such as customer lists, which the utility plans to transfer to or permit the
Section 7-106 subsidiary or any associate or affiliate of the subsidiary to
use, which statement shall include a description of the proposed terms and
conditions under which the assets or information will be transferred or used.
(c) In any proceeding pending before the Commission to determine the rates
to be charged for electric service by a public utility which has a Section
7-106 subsidiary, or which is a subsidiary of a holding company formed under
Section 7-105 of this Act, the Commission shall reduce the public utility's
rates to reflect the additional amount of revenue it would have earned during
the test year if the Section 7-106 subsidiary, such holding company, or any
other subsidiary company of such holding company had not provided the customer
with the services described in items (i), (ii), and (iii) of subsection (a) of
this Section. The Commission shall not reduce the revenues of the public
utility unless it finds that there was no reasonable probability that the
customer would have obtained the services described in items (i), (ii), and
(iii) of subsection (a) of this Section from another source (including the
customer), if such subsidiary, holding company, or other subsidiary company had
not entered into a contract or arrangement with the customer. A written
statement by an employee or authorized agent of the customer that such services
are available from other sources (including the customer) and that such agent
or employee believes that there was a reasonable probability that the customer
would have so obtained such services from another source (including the
customer) shall constitute prima facie evidence of such reasonable probability.
The provisions of this subsection shall not be construed as limiting the
authority of the Commission with respect to rates under any other Section of
this Act.
(d) The aggregate amount of a public utility's investments in, and
guarantees of, the contractual obligations of Section 7-106 subsidiaries
without the approval or consent of, or prior filing with, the Commission,
outstanding at the time of and after giving effect to any such investment or
guarantee, shall not exceed as of the date of such investment or guarantee an
amount equal to the lesser of $170,000,000 or 20% of the retained earnings of
the public utility as reported on its most recent annual report to the
Commission. The amount of each such guarantee shall be limited to a maximum
dollar amount which shall be specified in such guarantee. The terms of each
such guarantee shall provide that it shall terminate, and it shall terminate,
at the time that the public utility liquidates or transfers to any
entity or person, the interest and investment of such public utility in the
Section 7-106 subsidiary whose obligations are subject to such guarantee. The
authority of a public utility to invest in and guarantee the contractual
obligations of a Section 7-106 subsidiary without the approval or consent of,
or prior filing with, the Commission, as permitted by this Section 7-106, shall
expire on the date such public utility liquidates or transfers its interest and
investment in such Section 7-106 subsidiary.
(e) The Commission shall not consider the investment of a public utility in
or its obligation to make an investment in a Section 7-106 subsidiary, or the
guarantee by a public utility of contractual obligations of its Section 7-106
subsidiaries, in considering the amount or terms of any reparations or refunds
to be made by such public utility to its customers.
(f) On the date that a public utility becomes a subsidiary company of a
holding company pursuant to Section 7-105 of this Act, such public utility
shall either:
(i) liquidate or transfer its interest and investment | | in its Section 7-106 subsidiaries to such holding company or to any other entity or person in a transaction which does not require the prior approval or consent of the Commission under Section 7-101 or Section 7-102 of this Act, or
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(ii) file with the Commission for its approval under
| | Section 7-101 or Section 7-102 of this Act, a plan for such public utility to liquidate or transfer its interest and investment in its Section 7-106 subsidiaries.
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(g) If on the 550th day after the effective date of this amendatory Act of
1993 such public utility is not a subsidiary company of a holding company, such
public utility shall on such 550th day either:
(i) liquidate or transfer its interest and investment
| | in its Section 7-106 subsidiaries to any entity or person in a transaction which does not require the prior approval or consent of the Commission under Section 7-101 or Section 7-102 of this Act, or
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(ii) file with the Commission for its approval under
| | Section 7-101 or Section 7-102 of this Act, a plan for such public utility to liquidate or transfer its interest and investment in its Section 7-106 subsidiaries, or
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(iii) file with the Commission a petition for an
| | extension of time within which: (A) to become a subsidiary company of a holding company and to take action pursuant to subsection (f) of this Section 7-106; or (B) to take action pursuant to either subparagraph (i) or subparagraph (ii) of subsection (g) of this Section 7-106. The Commission shall grant such extension to an appropriate date unless it finds that the public utility has not taken action in a timely and appropriate manner to seek all regulatory, shareholder, and other authority for or, after obtaining all such authority, has not taken action in a timely and appropriate manner to effect a transaction in which such public utility would become a subsidiary company of a holding company. If the Commission finds that the public utility has not taken action in a timely and appropriate manner to seek all regulatory, shareholder, and other authority for or, after obtaining all such authority, has not taken action in a timely and appropriate manner to effect a transaction in which such public utility would become a subsidiary company of a holding company, the Commission shall deny the public utility's petition and shall approve a plan for such public utility to liquidate or transfer its interests and investments in its Section 7-106 subsidiaries. During the pendency of the proceeding before the Commission initiated by the petition filed by the public utility, the utility may continue to engage in activities described in Sections 7-105 and 7-106, as provided therein.
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(h) Contracts or arrangements between a public utility and its Section 7-106
subsidiaries, including contracts or arrangements for any services described in
Section 7-106 (a)(i), (ii), and (iii), but excluding investments and guarantees
permitted by this Section 7-106, shall be subject to the jurisdiction of the
Commission under Sections 7-101, 7-102, 7-204A(b), and other applicable
provisions, if any, of this Act, except that such public utility may, pursuant
to contracts or arrangements filed with the Commission, provide its Section
7-106 subsidiaries with office facilities or administrative and management
services which are reasonably necessary for the management of the business of
its Section 7-106 subsidiaries, which contracts or arrangements shall become
effective upon such public utility filing with the Commission a petition
seeking Commission approval thereof, and such contracts and arrangements shall
remain in effect unless modified by the Commission after a hearing on such
petition in which such public utility shall have the burden of proving the
reasonable necessity of the provision of such facilities and services. Such
contracts or arrangements shall require each Section 7-106 subsidiary to pay to
the public utility the fair market value for the use of such facilities and
services. The public utility shall keep its books of account and other records
in a manner that will enable the Commission to determine the propriety of any
allocation of costs between the public utility and its Section 7-106
subsidiaries. The burden of proving the propriety of any such allocation shall
be on the public utility. The public utility shall also have the burden of
proving that it has received or will receive fair market value for all
facilities or services provided to its Section 7-106 subsidiaries under this
Section 7-106.
(i) The costs of any public utility investment in or guarantee of the
contractual obligations of its Section 7-106 subsidiaries shall not be included
in rate base or treated as allowable expenses for purposes of determining the
rates to be charged by the public utility.
(j) No public utility shall have any liability to any of its Section 7-106
subsidiaries, except any obligation it may have to make investments in such
Section 7-106 subsidiaries in accordance with this Section 7-106. No public
utility shall have any liability for any obligation or liability of any of its
Section 7-106 subsidiaries, except under any guarantee of contractual
obligations of such Section 7-106 subsidiaries made in accordance with this
Section 7-106.
(k) No Section 7-106 subsidiary shall engage in the repair or servicing of
home or other consumer appliances except in emergencies posing a threat to life
or property.
(Source: P.A. 91-357, eff. 7-29-99.)
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220 ILCS 5/7-107
(220 ILCS 5/7-107)
Sec. 7-107.
Nothing in Section 7-105 or 7-106 of this Act shall be
construed as (a) limiting the ability of any public utility to engage in, or
the authority of the Commission to authorize, any transaction subject to
Section 7-101, 7-102, 7-204, or 7-204A of this Act as in effect prior to the
effective date of this amendatory Act of 1993 or (b) affecting the validity of
any petition or application for authorization under Section 7-101, 7-102,
7-204, or 7-204A of this Act pending before the Commission as of the effective
date of this amendatory Act of 1993.
(Source: P.A. 88-83.)
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