                                 CODE OF VIRGINIA

REVOCATION OF COMMISSION APPROVAL (§ 56-484.7:4)

The Commission may revoke its approval of a petition under § 56-484.7:1 no
earlier than five years after such approval if it finds (i) that the factors
described in § 56-484.7:2 on which the approval was based no longer exist or
are no longer being satisfied, or (ii) that the petitioner has not made
satisfactory progress toward making generally available the qualifying
communications services specified in the petition. If the Commission finds that
such approval should be revoked, it shall determine a date by which the county,
city, town, electric commission or board, or authority shall cease to offer such
qualifying communications services. In determining such date the Commission
shall allow a reasonable time for the entity to offer its equipment,
infrastructure and other assets related to such qualifying communications
services for sale at fair market value, which shall be deemed to be no less than
the amount of the indebtedness, for such equipment, infrastructure and other
assets related to such qualifying communications services. The provisions of
this section shall not apply to the use of telecommunications equipment and
services for intragovernmental purposes as specified in § 15.2-1500.

HISTORY: 2002, cc. 479, 489; 2003, c. 711.