North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 11 - UTILITIES COMMISSION
Chapter 2
Article 6 - OPERATIONS
Section 11 R02-29 - SUPERVISION OF LEASED OPERATING RIGHTS
Universal Citation: 6 NC Admin Code 11 R 02-29
Current through Register Vol. 39, No. 6, September 16, 2024
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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