                                 CODE OF VIRGINIA

SHORT-TERM INDEBTEDNESS (§ 56-65.1)

Notwithstanding the provisions of §§ 56-57 and 56-65, the provisions of this
chapter shall apply to the issuance of any note or notes by any public service
company which has total capitalization, including securities having a maturity
date of less than twelve months from the time of issue, of five million dollars
or more, unless such note or notes together with all other outstanding notes and
drafts of a maturity of less than twelve months on which such utility is
primarily or secondarily liable, aggregates not more than twelve percent of the
total capitalization of such utility.

HISTORY: 1952, c. 148; 1976, c. 408; 1987, c. 479; 1995, c. 137.