Texas § UT.35.035 - VALUATION AND ACCOUNTING OF TRANSFERRED ASSETS
Full text of Texas The Texas Constitution § UT.35.035 — VALUATION AND ACCOUNTING OF TRANSFERRED ASSETS, with citation guidance and answers to common questions.
§ UT.35.035. VALUATION AND ACCOUNTING OF TRANSFERRED ASSETS
VALUATION AND ACCOUNTING OF TRANSFERRED ASSETS. (a) A transfer of assets from an electric utility to an affiliated exempt wholesale generator or power marketer shall be valued at the greater of net book cost or fair market value. (b) A transfer of assets from an exempt wholesale generator or power marketer to an affiliated electric utility shall be valued at the lesser of net book cost or fair market value. (c) At the time that a transfer of assets between an electric utility and an affiliated exempt wholesale generator or power marketer is approved, the commission shall order the utility to adjust its rates so that the utility's tariffs reflect benefits from the proceeds of the sale and exclude any costs associated with the transferred facility. (d) For purposes of this section, "electric utility" does not include a river authority. Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 405, Sec. 21, eff. Sept. 1, 1999.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § UT.35.035
What does The Texas Constitution § UT.35.035 cover?
Section UT.35.035 ("VALUATION AND ACCOUNTING OF TRANSFERRED ASSETS") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § UT.35.035?
A common citation format is "The Texas Constitution § UT.35.035" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § UT.35.035 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.