Activities
Examples of SCC activities include:
- Serving as the central filing office for business entities authorized to transact business in Virginia and for UCC financing statements;
- Providing licensing, regulation, examination, and investigation of insurance companies, agencies and agents;
- Regulating securities, brokers, investment advisers and registering franchises and trademarks;
- Regulating Virginia's investor-owned electric, natural gas, water and sewer utilities, and member-owned electric cooperatives;
- Providing oversight for Virginia's telecommunication industry;
- Providing accounting and financial information for the deliberation of utiltity cases;
- Assessing the property of public service corporations for local taxation, collecting various taxes and fees, and obtaining annual reports;
- Conducting research and developing special studies and forecasts related to economic and financial issues of public utilities;
- Approving rate increases for landline telephone companies, utilities, etc. and approving rate restructuring plans;
- Administering safety programs involving underground utility damage prevention, jurisdictional natural gas and hazardous liquied pipeline facilities, and railroads;
- Protecting consumers through the administration of state laws regarding depository and non-depository financial institutions; and
- Handling and investigating complaints that are energy, telephone, financial, insurance, securities or retail franchising related.
The State Corporation Commission's structure is unique in that it is organized as a separate department of government with delegated administrative, legislative, and judicial powers. The SCC's membership, powers, duties, and procedures are set out in Article IX of the Constitution of Virginia. Section 4 of that Article allows parties aggrieved by the SCC's decisions to appeal to the Virginia Supreme Court.
Read more about this topic: State Corporation Commission (Virginia)
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