The commission shall have no authority to establish rates or regulate the borrowing of money, the issuance of evidences of indebtedness, or the sale, lease, assignment, mortgage, or other disposal or encumbrance of the property of any electrical cooperative.

(Added by renumbering Section 2782 (as added by Stats. 1975, Ch. 451) by Stats. 1977, Ch. 579.)

Terms Used In California Public Utilities Code 2777

  • Commission: means the Public Utilities Commission created by §. See California Public Utilities Code 20
  • electrical cooperative: means any private corporation or association organized for the purposes of transmitting or distributing electricity exclusively to its stockholders or members at cost. See California Public Utilities Code 2776
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
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