Maryland Code, PUBLIC UTILITIES 4-302
Terms Used In Maryland Code, PUBLIC UTILITIES 4-302
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
(2) In considering proper revenue under subsection (b)(3) of this section, the Commission shall determine a fair and equitable operating ratio.
(b) In setting a just and reasonable rate for common carriers, and classifications, regulations, and practices relating to common carriers, the Commission shall consider, among other factors:
(1) the inherent advantages of transportation by common carriers;
(2) the need, in the public interest, of adequate and efficient transportation services by common carriers at the lowest cost consistent with furnishing these services; and
(3) the need of revenues sufficient to enable common carriers to provide these services under honest, economical, and efficient management.