North Carolina Administrative Code (Last Updated: November 13, 2014)

04 NCAC 11 R02-29. UTILITIES COMMISSION

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R2‑29 SUPERVISION OF LEASED OPERATING RIGHTS

The lessor of operating rights shall supervise the operation of its lessee to the extent of requiring said lessee, during the term of the lease, to promptly pay all debts of the nature set out in G.S. 62‑111, and upon the termination of the lease, whether by agreement between the parties, by order of the Commission, or otherwise, operations shall not be resumed by the lessor, or by any transferee of the lessor, until all such debts shall have been paid.

                    
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