{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-77.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-77.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-77.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-77.html"}],"law_id":55874,"edition_id":1,"section_id":55874,"structure_id":14481,"section_number":"56-77","catch_line":"Certain contracts must be approved by the Commission","history":"1934, p. 744; Michie Code 1942, \u00a7 3774c; 1996, c. 19; 1998, c. 707.","full_text":"A\n\nNo contract or arrangement providing for the furnishing of management, supervisory, construction, engineering, accounting, legal, financial, or similar services, and no contract or arrangement for the purchase, sale, lease or exchange of any property, right or thing, other than those above enumerated, or for the purchase or sale of treasury bonds or treasury capital stock made or entered into between a public service company and any affiliated interest shall be valid or effective unless and until it shall have been filed with and approved by the Commission. The Commission shall, after the filing of such a contract or arrangement, approve or disapprove the contract or arrangement within sixty days. The sixty-day period may be extended by Commission order for an additional period not to exceed thirty days. The contract or arrangement shall be deemed approved if the Commission fails to act within sixty days or any extended period ordered by the Commission. It shall be the duty of every public service company to file with the Commission a verified copy of any such contract or arrangement, regardless of the amount involved, and the general rule herein referred to shall remain in full force and effect as to all other public service companies.B\n\nThe Commission may, in its discretion and upon petition of the public service company or upon the Commission’s own action, choose to exempt a public service company from all or any part of the requirements imposed by subsection A if the Commission determines that such an exemption is in the public interest. In addition to exemptions for individual public service companies, the Commission may adopt rules implementing exemptions from all or any part of the requirements imposed by subsection A. The Commission may revoke any exemptions granted under this subsection if it finds that such action is in the public interest.C\n\nNotwithstanding the provisions of § 56-481.2, the Commission, after giving notice and an opportunity for a hearing, may, in its discretion, require any company certificated to provide, and engaged in the provision of, local exchange telephone service to meet the requirements of subsection A.","order_by":null,"text":{"0":{"id":204664,"text":"No contract or arrangement providing for the furnishing of management, supervisory, construction, engineering, accounting, legal, financial, or similar services, and no contract or arrangement for the purchase, sale, lease or exchange of any property, right or thing, other than those above enumerated, or for the purchase or sale of treasury bonds or treasury capital stock made or entered into between a public service company and any affiliated interest shall be valid or effective unless and until it shall have been filed with and approved by the Commission. The Commission shall, after the filing of such a contract or arrangement, approve or disapprove the contract or arrangement within sixty days. The sixty-day period may be extended by Commission order for an additional period not to exceed thirty days. The contract or arrangement shall be deemed approved if the Commission fails to act within sixty days or any extended period ordered by the Commission. It shall be the duty of every public service company to file with the Commission a verified copy of any such contract or arrangement, regardless of the amount involved, and the general rule herein referred to shall remain in full force and effect as to all other public service companies.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":204665,"text":"The Commission may, in its discretion and upon petition of the public service company or upon the Commission’s own action, choose to exempt a public service company from all or any part of the requirements imposed by subsection A if the Commission determines that such an exemption is in the public interest. In addition to exemptions for individual public service companies, the Commission may adopt rules implementing exemptions from all or any part of the requirements imposed by subsection A. The Commission may revoke any exemptions granted under this subsection if it finds that such action is in the public interest.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":204666,"text":"Notwithstanding the provisions of § 56-481.2, the Commission, after giving notice and an opportunity for a hearing, may, in its discretion, require any company certificated to provide, and engaged in the provision of, local exchange telephone service to meet the requirements of subsection A.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14481,"edition_id":1,"name":"Regulation of Relations With Affiliated Interests","identifier":"4","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:48:17","date_modified":"2026-06-26 03:48:17","permalink":{"id":251097,"object_type":"structure","relational_id":14481,"identifier":"4","token":"56\/4","url":"\/56\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12881,"edition_id":1,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":248473,"object_type":"structure","relational_id":12881,"identifier":"56","token":"56","url":"\/56\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58706,"structure_id":14481,"section_number":"56-76","catch_line":"Definitions","url":"\/56-76\/","token":"56\/4\/56-76","metadata":false},{"id":55874,"structure_id":14481,"section_number":"56-77","catch_line":"Certain contracts must be approved by the Commission","url":"\/56-77\/","token":"56\/4\/56-77","metadata":false},{"id":81232,"structure_id":14481,"section_number":"56-78","catch_line":"Exclusion from accounts of payments to affiliated companies","url":"\/56-78\/","token":"56\/4\/56-78","metadata":false},{"id":84568,"structure_id":14481,"section_number":"56-79","catch_line":"Proof of costs in cases of payment to affiliated companies","url":"\/56-79\/","token":"56\/4\/56-79","metadata":false},{"id":57044,"structure_id":14481,"section_number":"56-80","catch_line":"Continuing supervisory control over terms and conditions of contracts","url":"\/56-80\/","token":"56\/4\/56-80","metadata":false},{"id":75419,"structure_id":14481,"section_number":"56-81","catch_line":"Summary order prohibiting treatment of payments as operating expenses, etc","url":"\/56-81\/","token":"56\/4\/56-81","metadata":false},{"id":72660,"structure_id":14481,"section_number":"56-82","catch_line":"Approval of loans to affiliates, etc","url":"\/56-82\/","token":"56\/4\/56-82","metadata":false},{"id":75136,"structure_id":14481,"section_number":"56-83","catch_line":"Summary order prohibiting payment of dividends to affiliates","url":"\/56-83\/","token":"56\/4\/56-83","metadata":false},{"id":78171,"structure_id":14481,"section_number":"56-84","catch_line":"Application or petition by public service company and affiliates; hearing; action of Commission; conditions imposed on foreign corporations","url":"\/56-84\/","token":"56\/4\/56-84","metadata":false},{"id":71714,"structure_id":14481,"section_number":"56-85","catch_line":"Offenses","url":"\/56-85\/","token":"56\/4\/56-85","metadata":false},{"id":72643,"structure_id":14481,"section_number":"56-86","catch_line":"Appeal from decisions of Commission under chapter","url":"\/56-86\/","token":"56\/4\/56-86","metadata":false},{"id":86159,"structure_id":14481,"section_number":"56-87","catch_line":"Rules of Commission to carry out chapter","url":"\/56-87\/","token":"56\/4\/56-87","metadata":false}],"previous_section":{"id":58706,"structure_id":14481,"section_number":"56-76","catch_line":"Definitions","url":"\/56-76\/","token":"56\/4\/56-76","metadata":false},"next_section":{"id":81232,"structure_id":14481,"section_number":"56-78","catch_line":"Exclusion from accounts of payments to affiliated companies","url":"\/56-78\/","token":"56\/4\/56-78","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-77\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1996, chapter 19<\/a>; in 1998, chapter 707<\/a>.<\/p>","references":[{"id":58706,"section_number":"56-76","catch_line":"Definitions","order_by":null,"url":"\/56-76\/"},{"id":75419,"section_number":"56-81","catch_line":"Summary order prohibiting treatment of payments as operating expenses, etc","order_by":null,"url":"\/56-81\/"}],"refers_to":[{"id":58465,"section_number":"56-481.2","catch_line":"Rates, charges and regulations for local exchange telephone services provided by new entrants","order_by":null,"url":"\/56-481.2\/"}],"permalink":{"id":251103,"object_type":"law","relational_id":55874,"identifier":"56-77","token":"56\/4\/56-77","url":"\/56-77\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-77\/","token":"56\/4\/56-77","dublin_core":{"Title":"Certain contracts must be approved by the Commission","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-77","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No contract<\/span> or arrangement providing for the furnishing of management, supervisory, construction, engineering, accounting, legal, financial, or similar services, and no contract<\/span> or arrangement for the purchase, sale, lease or exchange of any property, right or thing, other than those above enumerated, or for the purchase or sale of treasury bonds<\/span> or treasury capital stock made or entered into between a public service company<\/span> and any affiliated interest<\/span> shall be valid or effective unless and until it shall have been filed with and approved by the Commission<\/span>. The Commission<\/span> shall, after the filing of such a contract<\/span> or arrangement, approve or disapprove the contract<\/span> or arrangement within sixty days. The sixty-day period may be extended by Commission<\/span> order<\/span> for an additional period not to exceed thirty days. The contract<\/span> or arrangement shall be deemed approved if the Commission<\/span> fails to act within sixty days or any extended period ordered by the Commission<\/span>. It shall be the duty of every public service company<\/span> to file with the Commission<\/span> a verified copy of any such contract<\/span> or arrangement, regardless of the amount involved, and the general rule herein referred to shall remain in full force and effect as to all other public service companies. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span> may, in its discretion and upon petition<\/span> of the public service company<\/span> or upon the Commission<\/span>’s own action, choose to exempt a public service company<\/span> from all or any part of the requirements imposed by subsection A if the Commission<\/span> determines that such an exemption is in the public interest. In addition to exemptions for individual public service companies, the Commission<\/span> may adopt rules implementing exemptions from all or any part of the requirements imposed by subsection A. The Commission<\/span> may revoke any exemptions granted under this subsection if it finds that such action is in the public interest. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Notwithstanding the provisions of § 56-481.2<\/a>, the Commission<\/span>, after giving notice and an opportunity for a hearing<\/span>, may, in its discretion, require any company certificated to provide, and engaged in the provision of, local exchange telephone service<\/span> to meet the requirements of subsection A. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCERTAIN CONTRACTS MUST BE APPROVED BY THE COMMISSION (\u00a7 56-77)\n\nA. No contract or arrangement providing for the furnishing of management,\nsupervisory, construction, engineering, accounting, legal, financial, or similar\nservices, and no contract or arrangement for the purchase, sale, lease or\nexchange of any property, right or thing, other than those above enumerated, or\nfor the purchase or sale of treasury bonds or treasury capital stock made or\nentered into between a public service company and any affiliated interest shall\nbe valid or effective unless and until it shall have been filed with and\napproved by the Commission. The Commission shall, after the filing of such a\ncontract or arrangement, approve or disapprove the contract or arrangement\nwithin sixty days. The sixty-day period may be extended by Commission order for\nan additional period not to exceed thirty days. The contract or arrangement\nshall be deemed approved if the Commission fails to act within sixty days or any\nextended period ordered by the Commission. It shall be the duty of every public\nservice company to file with the Commission a verified copy of any such contract\nor arrangement, regardless of the amount involved, and the general rule herein\nreferred to shall remain in full force and effect as to all other public service\ncompanies.\n\nB. The Commission may, in its discretion and upon petition of the public service\ncompany or upon the Commission’s own action, choose to exempt a public\nservice company from all or any part of the requirements imposed by subsection A\nif the Commission determines that such an exemption is in the public interest.\nIn addition to exemptions for individual public service companies, the\nCommission may adopt rules implementing exemptions from all or any part of the\nrequirements imposed by subsection A. The Commission may revoke any exemptions\ngranted under this subsection if it finds that such action is in the public\ninterest.\n\nC. Notwithstanding the provisions of § 56-481.2, the Commission, after\ngiving notice and an opportunity for a hearing, may, in its discretion, require\nany company certificated to provide, and engaged in the provision of, local\nexchange telephone service to meet the requirements of subsection A.\n\nHISTORY: 1934, p. 744; Michie Code 1942, \u00a7 3774c; 1996, c. 19; 1998, c. 707.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}