Terms Used In South Carolina Code > Title 58 > Chapter 27 > Article 13 - Issuance and Sales of Securities

• commission: means the Public Service Commission of this State. See South Carolina Code 58-27-10
• Contract: A legal written agreement that becomes binding when signed.
• corporation: includes all bodies corporate, joint-stock companies or associations, domestic or foreign, their lessees, assignees, trustees, receivers, or other successors in interest, having any of the powers or privileges of corporations not possessed by individuals or partnerships; but it shall not include municipalities as hereinafter defined. See South Carolina Code 58-27-10
• 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.
• electrical utility: includes municipalities to the extent of their business, property, rates, transactions, and operations without the corporate limits of the municipality, persons and corporations, their lessees, assignees, trustees, receivers, or other successors in interest owning or operating in this State equipment or facilities for generating, transmitting, delivering, or furnishing electricity for street, railway, or other public uses or for the production of light, heat, or power to or for the public for compensation; but it shall not include an electric cooperative or a consolidated political subdivision and shall not include a person, corporation, or municipality furnishing electricity only to himself or itself, their residents, employees, or tenants when such current is not resold or used by others. See South Carolina Code 58-27-10
• municipality: includes a city, town, county, township, or any other corporation existing, created, or organized as a governmental unit under the Constitution or laws of this State except a consolidated political subdivision. See South Carolina Code 58-27-10
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• person: includes all individuals, partnerships, or associations other than corporations. See South Carolina Code 58-27-10
• rate: means and includes every compensation, charge, toll, rental, and classification, or any of them, demanded, observed, charged, or collected by any electrical utility for any electric current or service offered by it to the public and any rules, regulations, practices, or contracts affecting any such compensation, charge, toll, rental, or classification. See South Carolina Code 58-27-10
• regulatory staff: means the executive director or the executive director and the employees of the Office of Regulatory Staff. See South Carolina Code 58-27-10
• securities: means and includes stock, stock certificates, bonds, notes, debentures, or other evidences of indebtedness and any assumption or guaranty thereof. See South Carolina Code 58-27-10