                                 CODE OF VIRGINIA

CONTINUING SUPERVISORY CONTROL OVER TERMS AND CONDITIONS OF CONTRACTS (§ 56-80)

The Commission shall have continuing supervisory control over the terms and
conditions of such contracts and arrangements as are herein described so far as
necessary to protect and promote the public interest. The Commission shall have
the same jurisdiction over the modification or amendment of contracts or
arrangements herein described as it has over such original contracts or
arrangements. The fact that the Commission shall have approved entry into any
such contract or arrangement shall not preclude disallowance or disapproval of
payments made pursuant thereto in the future, if upon actual experience under
such contract or arrangement, it appears that the payments provided for, or
made, were, or are, unreasonable. Every order of the Commission approving any
such contract or arrangement shall be expressly conditioned upon the reserved
power of the Commission to revise and amend the terms and conditions thereof,
if, when and as necessary to protect and promote the public interest.

HISTORY: 1934, p. 745; Michie Code 1942, § 3774f.