South Carolina § 58-27-1550 - Annual depreciation; depreciation reserve.
Full text of South Carolina South Carolina Code of Laws § 58-27-1550 — Annual depreciation; depreciation reserve., with citation guidance and answers to common questions.
§ 58-27-1550. Annual depreciation; depreciation reserve.
Every electrical utility may, and may be required to, charge annually as an operating expense a reasonable sum for depreciation and credit the sum to a reserve account for such purpose. The reserve account must be charged only with plant retirements and expenditures made to restore depreciated property. But if the reserve thus created shall at any time in the judgment of the Office of Regulatory Staff be excessive, the commission, after due hearing, shall issue an order as will result in the credits to the reserve thereafter conforming to actual facts and conditions as ascertained by the commission. The commission may control or limit the depreciation reserve.
HISTORY: 1962 Code SECTION 24-95; 1952 Code SECTION 24-95; 1942 Code SECTION 8555-2; 1932 (37) 1497; 1934 (38) 1452; 1935 (39) 207; 1937 (40) 493; 2006 Act No. 318, SECTION 194, eff May 24, 2006.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 58-27-1550
What does South Carolina Code of Laws § 58-27-1550 cover?
Section 58-27-1550 ("Annual depreciation; depreciation reserve.") 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 § 58-27-1550?
A common citation format is "South Carolina Code of Laws § 58-27-1550" (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 § 58-27-1550 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.