North Carolina General Statutes 62-110.5. Commission may exempt certain nonprofit and consumer-owned water or sewer utilities
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The Commission may exempt any water or sewer utilities owned by nonprofit membership or consumer-owned corporations from regulation under this Chapter, subject to those conditions the Commission deems appropriate, if:
(1) The members or consumer-owners of the corporation elect the governing board of the corporation pursuant to the corporation’s articles of incorporation and bylaws; and
Terms Used In North Carolina General Statutes 62-110.5
- Commission: means the North Carolina Utilities Commission. See North Carolina General Statutes 62-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Service: means any service furnished by a public utility, including any commodity furnished as a part of such service and any ancillary service or facility used in connection with such service. See North Carolina General Statutes 62-3
(2) The Commission finds that the organization and the quality of service of the utility are adequate to protect the public interest to the extent that additional regulation is not required by the public convenience and necessity. (1997-437, s. 2.)