                                 CODE OF VIRGINIA

COLLECTION AND DISPOSITION OF REVENUES ACCRUING FROM UTILITY (§ 56-520)

The Governor may provide in such manner as he deems appropriate for the
collection of the gross revenues accruing from the utility during the time of
its operation by the Commonwealth. After payment of proper operating expenses
and reimbursement of the Commonwealth for all expenses incurred in preparing to
operate same and making allowances of the additional items as provided in §
56-523 in defining net income, eighty-five per centum of the net income shall be
paid to the utility as compensation for the temporary use of its business,
facilities and properties. The amount of money so paid shall in nowise control
the amount of just compensation to be allowed the utility. In the event of
disagreement as to the amount of payments under this section, either party may,
by appropriate petition, submit the matter to the State Corporation Commission
with the right of appeal from its decision to the Supreme Court.

HISTORY: 1952, c. 696.