Public Utilities Code - PUC
DIVISION 1. REGULATION OF PUBLIC UTILITIES [201 - 3297]
( Division 1 enacted by Stats. 1951, Ch. 764. ) PART 4. PRODUCTION AND TRANSMISSION OF PUBLIC UTILITY COMMODITIES AND SERVICES [3001 - 3255]
( Part 4 added by Stats. 1987, Ch. 680, Sec. 1. ) CHAPTER 1. Gas Producers’ Cooperative Associations [3001 - 3224]
( Chapter 1 added by Stats. 1987, Ch. 680, Sec. 1. ) ARTICLE 10. Marketing Contracts [3201 - 3206]
( Article 10 added by Stats. 1987, Ch. 680, Sec. 1. ) 3202.
The contract may provide that the association may sell or resell any gas which is delivered by its members, with or without taking title to the gas, and pay over to its members the resale price, after deducting all of the following:
(a) Necessary selling, overhead, and other costs and expenses, including interest on preferred stock, not exceeding 8 percent per annum, and reserves for retiring the stock, if any.
(b) Other proper reserves.
(c) Interest not exceeding 8 percent per annum upon common stock.
(Added by Stats. 1987, Ch. 680, Sec. 1.)