{"identifier":"/us/usc/t42/s16451","title":42,"num":"\u00a7\u202f16451.","heading":"Definitions","text":"\u00a7\u202f16451.\nDefinitions\nFor purposes of this part:\n(1)\nAffiliate\nThe term \u201caffiliate\u201d of a company means any company, 5 percent or more of the outstanding voting securities of which are owned, controlled, or held with power to vote, directly or indirectly, by such company.\n(2)\nAssociate company\nThe term \u201cassociate company\u201d of a company means any company in the same holding company system with such company.\n(3)\nCommission\nThe term \u201cCommission\u201d means the Federal Energy Regulatory Commission.\n(4)\nCompany\nThe term \u201ccompany\u201d means a corporation, partnership, association, joint stock company, business trust, or any organized group of persons, whether incorporated or not, or a receiver, trustee, or other liquidating agent of any of the foregoing.\n(5)\nElectric utility company\nThe term \u201celectric utility company\u201d means any company that owns or operates facilities used for the generation, transmission, or distribution of electric energy for sale.\n(6)\nExempt wholesale generator and foreign utility company\nThe terms \u201cexempt wholesale generator\u201d and \u201cforeign utility company\u201d have the same meanings as in sections 79z\u20135a and 79z\u20135b of title 15, as those sections existed on the day before the effective date of this part.\n(7)\nGas utility company\nThe term \u201cgas utility company\u201d means any company that owns or operates facilities used for distribution at retail (other than the distribution only in enclosed portable containers or distribution to tenants or employees of the company operating such facilities for their own use and not for resale) of natural or manufactured gas for heat, light, or power.\n(8)\nHolding company\n(A)\nIn general\nThe term \u201cholding company\u201d means\u2014\n(i) any company that directly or indirectly owns, controls, or holds, with power to vote, 10 percent or more of the outstanding voting securities of a public-utility company or of a holding company of any public-utility company; and\n(ii) any person, determined by the Commission, after notice and opportunity for hearing, to exercise directly or indirectly (either alone or pursuant to an arrangement or understanding with one or more persons) such a controlling influence over the management or policies of any public-utility company or holding company as to make it necessary or appropriate for the rate protection of utility customers with respect to rates that such person be subject to the obligations, duties, and liabilities imposed by this part upon holding companies.\n(B)\nExclusions\nThe term \u201cholding company\u201d shall not include\u2014\n(i) a bank, savings association, or trust company, or their operating subsidiaries that own, control, or hold, with the power to vote, public utility or public utility holding company securities so long as the securities are\u2014\n(I) held as collateral for a loan;\n(II) held in the ordinary course of business as a fiduciary; or\n(III) acquired solely for purposes of liquidation and in connection with a loan previously contracted for and owned beneficially for a period of not more than two years; or\n(ii) a broker or dealer that owns, controls, or holds with the power to vote public utility or public utility holding company securities so long as the securities are\u2014\n(I) not beneficially owned by the broker or dealer and are subject to any voting instructions which may be given by customers or their assigns; or\n(II) acquired within 12 months in the ordinary course of business as a broker, dealer, or underwriter with the bona fide intention of effecting distribution of the specific securities so acquired.\n(9)\nHolding company system\nThe term \u201cholding company system\u201d means a holding company, together with its subsidiary companies.\n(10)\nJurisdictional rates\nThe term \u201cjurisdictional rates\u201d means rates accepted or established by the Commission for the transmission of electric energy in interstate commerce, the sale of electric energy at wholesale in interstate commerce, the transportation of natural gas in interstate commerce, and the sale in interstate commerce of natural gas for resale for ultimate public consumption for domestic, commercial, industrial, or any other use.\n(11)\nNatural gas company\nThe term \u201cnatural gas company\u201d means a person engaged in the transportation of natural gas in interstate commerce or the sale of such gas in interstate commerce for resale.\n(12)\nPerson\nThe term \u201cperson\u201d means an individual or company.\n(13)\nPublic utility\nThe term \u201cpublic utility\u201d means any person who owns or operates facilities used for transmission of electric energy in interstate commerce or sales of electric energy at wholesale in interstate commerce.\n(14)\nPublic-utility company\nThe term \u201cpublic-utility company\u201d means an electric utility company or a gas utility company.\n(15)\nState commission\nThe term \u201cState commission\u201d means any commission, board, agency, or officer, by whatever name designated, of a State, municipality, or other political subdivision of a State that, under the laws of such State, has jurisdiction to regulate public utility companies.\n(16)\nSubsidiary company\nThe term \u201csubsidiary company\u201d of a holding company means\u2014\n(A) any company, 10 percent or more of the outstanding voting securities of which are directly or indirectly owned, controlled, or held with power to vote, by such holding company; and\n(B) any person, the management or policies of which the Commission, after notice and opportunity for hearing, determines to be subject to a controlling influence, directly or indirectly, by such holding company (either alone or pursuant to an arrangement or understanding with one or more other persons) so as to make it necessary for the rate protection of utility customers with respect to rates that such person be subject to the obligations, duties, and liabilities imposed by this part upon subsidiary companies of holding companies.\n(17)\nVoting security\nThe term \u201cvoting security\u201d means any security presently entitling the owner or holder thereof to vote in the direction or management of the affairs of a company.","url":"https://projectusc.org/usc/t42/s16451.html","content":[{"t":"sec","id":"/us/usc/t42/s16451","children":[{"t":"num","text":"\u00a7\u202f16451."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"For purposes of this part:"},{"t":"para","id":"/us/usc/t42/s16451/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Affiliate"},{"t":"content","children":[{"t":"p","text":"The term \u201caffiliate\u201d of a company means any company, 5 percent or more of the outstanding voting securities of which are owned, controlled, or held with power to vote, directly or indirectly, by such company.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Associate company"},{"t":"content","children":[{"t":"p","text":"The term \u201cassociate company\u201d of a company means any company in the same holding company system with such company.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Commission"},{"t":"content","children":[{"t":"p","text":"The term \u201cCommission\u201d means the Federal Energy Regulatory Commission.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/4","children":[{"t":"num","text":"(4)"},{"t":"heading","text":"Company"},{"t":"content","children":[{"t":"p","text":"The term \u201ccompany\u201d means a corporation, partnership, association, joint stock company, business trust, or any organized group of persons, whether incorporated or not, or a receiver, trustee, or other liquidating agent of any of the foregoing.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/5","children":[{"t":"num","text":"(5)"},{"t":"heading","text":"Electric utility company"},{"t":"content","children":[{"t":"p","text":"The term \u201celectric utility company\u201d means any company that owns or operates facilities used for the generation, transmission, or distribution of electric energy for sale.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/6","children":[{"t":"num","text":"(6)"},{"t":"heading","text":"Exempt wholesale generator and foreign utility company"},{"t":"content","children":[{"t":"p","text":"The terms \u201cexempt wholesale generator\u201d and \u201cforeign utility company\u201d have the same meanings as in sections 79z\u20135a and 79z\u20135b of title 15, as those sections existed on the day before the effective date of this part.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/7","children":[{"t":"num","text":"(7)"},{"t":"heading","text":"Gas utility company"},{"t":"content","children":[{"t":"p","text":"The term \u201cgas utility company\u201d means any company that owns or operates facilities used for distribution at retail (other than the distribution only in enclosed portable containers or distribution to tenants or employees of the company operating such facilities for their own use and not for resale) of natural or manufactured gas for heat, light, or power.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/8","children":[{"t":"num","text":"(8)"},{"t":"heading","text":"Holding company"},{"t":"subpara","id":"/us/usc/t42/s16451/8/A","children":[{"t":"num","text":"(A)"},{"t":"heading","text":"In general"},{"t":"chapeau","text":"The term \u201cholding company\u201d means\u2014"},{"t":"clause","id":"/us/usc/t42/s16451/8/A/i","children":[{"t":"num","text":"(i)"},{"t":"content","text":" any company that directly or indirectly owns, controls, or holds, with power to vote, 10 percent or more of the outstanding voting securities of a public-utility company or of a holding company of any public-utility company; and","tail":"\n"}],"tail":"\n"},{"t":"clause","id":"/us/usc/t42/s16451/8/A/ii","children":[{"t":"num","text":"(ii)"},{"t":"content","text":" any person, determined by the Commission, after notice and opportunity for hearing, to exercise directly or indirectly (either alone or pursuant to an arrangement or understanding with one or more persons) such a controlling influence over the management or policies of any public-utility company or holding company as to make it necessary or appropriate for the rate protection of utility customers with respect to rates that such person be subject to the obligations, duties, and liabilities imposed by this part upon holding companies.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t42/s16451/8/B","children":[{"t":"num","text":"(B)"},{"t":"heading","text":"Exclusions"},{"t":"chapeau","text":"The term \u201cholding company\u201d shall not include\u2014"},{"t":"clause","id":"/us/usc/t42/s16451/8/B/i","children":[{"t":"num","text":"(i)"},{"t":"chapeau","text":" a bank, savings association, or trust company, or their operating subsidiaries that own, control, or hold, with the power to vote, public utility or public utility holding company securities so long as the securities are\u2014"},{"t":"subclause","id":"/us/usc/t42/s16451/8/B/i/I","children":[{"t":"num","text":"(I)"},{"t":"content","text":" held as collateral for a loan;","tail":"\n"}],"tail":"\n"},{"t":"subclause","id":"/us/usc/t42/s16451/8/B/i/II","children":[{"t":"num","text":"(II)"},{"t":"content","text":" held in the ordinary course of business as a fiduciary; or","tail":"\n"}],"tail":"\n"},{"t":"subclause","id":"/us/usc/t42/s16451/8/B/i/III","children":[{"t":"num","text":"(III)"},{"t":"content","text":" acquired solely for purposes of liquidation and in connection with a loan previously contracted for and owned beneficially for a period of not more than two years; or","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"clause","id":"/us/usc/t42/s16451/8/B/ii","children":[{"t":"num","text":"(ii)"},{"t":"chapeau","text":" a broker or dealer that owns, controls, or holds with the power to vote public utility or public utility holding company securities so long as the securities are\u2014"},{"t":"subclause","id":"/us/usc/t42/s16451/8/B/ii/I","children":[{"t":"num","text":"(I)"},{"t":"content","text":" not beneficially owned by the broker or dealer and are subject to any voting instructions which may be given by customers or their assigns; or","tail":"\n"}],"tail":"\n"},{"t":"subclause","id":"/us/usc/t42/s16451/8/B/ii/II","children":[{"t":"num","text":"(II)"},{"t":"content","text":" acquired within 12 months in the ordinary course of business as a broker, dealer, or underwriter with the bona fide intention of effecting distribution of the specific securities so acquired.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/9","children":[{"t":"num","text":"(9)"},{"t":"heading","text":"Holding company system"},{"t":"content","children":[{"t":"p","text":"The term \u201cholding company system\u201d means a holding company, together with its subsidiary companies.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/10","children":[{"t":"num","text":"(10)"},{"t":"heading","text":"Jurisdictional rates"},{"t":"content","children":[{"t":"p","text":"The term \u201cjurisdictional rates\u201d means rates accepted or established by the Commission for the transmission of electric energy in interstate commerce, the sale of electric energy at wholesale in interstate commerce, the transportation of natural gas in interstate commerce, and the sale in interstate commerce of natural gas for resale for ultimate public consumption for domestic, commercial, industrial, or any other use.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/11","children":[{"t":"num","text":"(11)"},{"t":"heading","text":"Natural gas company"},{"t":"content","children":[{"t":"p","text":"The term \u201cnatural gas company\u201d means a person engaged in the transportation of natural gas in interstate commerce or the sale of such gas in interstate commerce for resale.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/12","children":[{"t":"num","text":"(12)"},{"t":"heading","text":"Person"},{"t":"content","children":[{"t":"p","text":"The term \u201cperson\u201d means an individual or company.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/13","children":[{"t":"num","text":"(13)"},{"t":"heading","text":"Public utility"},{"t":"content","children":[{"t":"p","text":"The term \u201cpublic utility\u201d means any person who owns or operates facilities used for transmission of electric energy in interstate commerce or sales of electric energy at wholesale in interstate commerce.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/14","children":[{"t":"num","text":"(14)"},{"t":"heading","text":"Public-utility company"},{"t":"content","children":[{"t":"p","text":"The term \u201cpublic-utility company\u201d means an electric utility company or a gas utility company.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/15","children":[{"t":"num","text":"(15)"},{"t":"heading","text":"State commission"},{"t":"content","children":[{"t":"p","text":"The term \u201cState commission\u201d means any commission, board, agency, or officer, by whatever name designated, of a State, municipality, or other political subdivision of a State that, under the laws of such State, has jurisdiction to regulate public utility companies.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/16","children":[{"t":"num","text":"(16)"},{"t":"heading","text":"Subsidiary company"},{"t":"chapeau","text":"The term \u201csubsidiary company\u201d of a holding company means\u2014"},{"t":"subpara","id":"/us/usc/t42/s16451/16/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" any company, 10 percent or more of the outstanding voting securities of which are directly or indirectly owned, controlled, or held with power to vote, by such holding company; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t42/s16451/16/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" any person, the management or policies of which the Commission, after notice and opportunity for hearing, determines to be subject to a controlling influence, directly or indirectly, by such holding company (either alone or pursuant to an arrangement or understanding with one or more other persons) so as to make it necessary for the rate protection of utility customers with respect to rates that such person be subject to the obligations, duties, and liabilities imposed by this part upon subsidiary companies of holding companies.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t42/s16451/17","children":[{"t":"num","text":"(17)"},{"t":"heading","text":"Voting security"},{"t":"content","children":[{"t":"p","text":"The term \u201cvoting security\u201d means any security presently entitling the owner or holder thereof to vote in the direction or management of the affairs of a company.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}