Oklahoma Administrative Code
Title 165 - Corporation Commission
Chapter 45 - Gas Service Utilities
Subchapter 17 - Competitive Bidding and Affiliate Transaction Rules for the Provision of Natural Gas Services of Gas Supply, Gathering, Transmission and Storage of Natural Gas Utilities Upstream of the Citygate
Section 165:45-17-24.1 - Financial transactions by utilities or their affiliate(s)
Current through Vol. 41, No. 13, March 15, 2024
(a) Financial transactions. Financial transactions include, but are not limited to, stock, bond, derivatives, and any financing instrument issuance as well any debt, equity, derivative or related transaction.
(b) Separate books and records. A utility shall keep separate books of accounts and records from its affiliates. The Commission may review records relating to any transaction between a utility and an affiliate to ensure compliance with this Subchapter including the records of both the utility and the affiliate relating to that transaction.
(c) Limited credit, investment or financing support by a utility. A utility may share credit, investment, or financing arrangements with its affiliates if it complies with paragraphs (1) and (2) of this Subsection.
(d) Cost of financing transactions of any affiliate. The cost of any financial transactions, in part or in full, or any debt, equity, trading activity, or derivative, of any parent company, holding company or any affiliate, which has a direct or indirect financial or cost impact upon the utility shall be reviewed by the Commission on a case-by-case basis.
Added at 21 Ok Reg 2095, eff 7-1-04