South Carolina § 58-27-1020 - Capitalization for rate-making purposes.
Full text of South Carolina South Carolina Code of Laws § 58-27-1020 — Capitalization for rate-making purposes., with citation guidance and answers to common questions.
§ 58-27-1020. Capitalization for rate-making purposes.
No electrical utility shall, for rate-making purposes, capitalize its franchises, rights, powers, privileges or right to own and operate or enjoy any such franchises, rights, powers or privileges in excess of the amount paid to the State or to any political subdivision of the State as the consideration for the grant thereof or so capitalize any lease, contract of sale or contract for consolidation or merger of two or more electrical utilities or issue by way of substitution any capital stock, trust certificates, bonds, notes or other evidences of indebtedness or other securities for any consolidated or merged company exceeding the aggregate values of the properties so consolidated or merged plus any additional sum of money actually contributed in cash and any additional property or labor actually contributed; and the determination of such consideration or value as aforesaid shall be subject to the approval of the Commission. The Commission shall not permit any electrical utility to do any of the things that an electrical utility is forbidden by this section to do.
HISTORY: 1962 Code SECTION 24-52; 1952 Code SECTION 24-52; 1942 Code SECTION 8555-2; 1932 (37) 1497; 1934 (38) 1452; 1935 (39) 207; 1937 (40) 493.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 58-27-1020
What does South Carolina Code of Laws § 58-27-1020 cover?
Section 58-27-1020 ("Capitalization for rate-making purposes.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 58-27-1020?
A common citation format is "South Carolina Code of Laws § 58-27-1020" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 58-27-1020 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.