Nebraska § 66-1826 Payment of dividends; limitation

Nebraska Statutes

§ 66-1826 — Payment of dividends; limitation

Nebraska·Ch. 66 Oils, Fuels, and Energy

If the commission determines on complaint or upon its own initiative, and after hearing on due notice in accordance with rules and regulations adopted and promulgated pursuant to section  75-110 , that the payment of any dividend by a jurisdictional utility will impair the financial condition of such company so that such utility cannot maintain its property in a safe operating condition and render adequate service to its ratepayers, the commission shall enter an order prohibiting the payment of such dividends until such time as such company has shown to the commission that the conditions upon which such order was based have ceased to exist.

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If the commission determines on complaint or upon its own initiative, and after hearing on due notice in accordance with rules and regulations adopted and promulgated pursuant to section 75-110 , that the payment of any dividend by a jurisdictional utility will impair the financial condition of such company so that such utility cannot maintain its property in a safe operating condition and render adequate service to its ratepayers, the commission shall enter an order prohibiting the payment of such dividends until such time as such company has shown to the commission that the conditions upon which such order was based have ceased to exist.

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