Virginia Code 15.2-7209: Authority deemed to be an MLEC
A. The establishment of the BVU Authority is deemed to be an entity conversion and all assets of, tariffs on file with the Commission, and all certificates authorizing the furnishing of Local Exchange Telephone Service and the furnishing of interexchange telecommunications services, granted to and held by Bristol Virginia Utilities and the City of Bristol, Bristol Virginia Utilities Division are hereby deemed to be transferred to BVU Authority without further application by BVU Authority to the Commission. The Commission shall issue appropriate documentation to effectuate this transfer without further action on behalf of BVU Authority. It is further deemed that the Authority has met all conditions precedent to qualify for such certificates and the powers granted therein and the limitations, restrictions, and requirements set forth thereto continuing in full force and effect.
Terms Used In Virginia Code 15.2-7209
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authority: means the BVU Authority created by entity conversion of Bristol Virginia Utilities by this chapter. See Virginia Code 15.2-7202
- City: means the City of Bristol, Virginia. See Virginia Code 15.2-7202
- Commission: means the Virginia State Corporation Commission. See Virginia Code 15.2-7202
- MLEC: means any city, county, or town certificated to provide local exchange and/or interexchange telecommunications services pursuant to § 56-265. See Virginia Code 15.2-7202
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
B. BVU Authority will be deemed to be an MLEC.
C. Upon enactment of this chapter, the Authority shall file a name change with the Commission.
D. No bond shall be required of BVU Authority by the Commission.