Section 128. A corporation which has a franchise in and the use of the public streets of a town for the supply and distribution or only distribution, of gas, water, electric light or power, and which holds for a longer period than six months money which is collected in advance from its customers to guarantee it against loss of charges or tolls, shall pay annually upon said guaranty fund interest at a rate fixed from time to time by the department to the depositors thereof, which shall be applied to the payment of charges and tolls by said depositors. The annual return required of such corporation by section one hundred and nine of chapter one hundred and fifty-six B shall also include a statement of all money, and of the value of any collateral, so held as a guaranty for the payment of charges or tolls, specifying the amounts so deposited by the inhabitants of each town. If such corporation fails or neglects to include such information in such return or fails, neglects or refuses to pay such interest it shall be punished by a fine of not less than one hundred nor more than five hundred dollars.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
