Removal of Restrictions on Payment of Dividends and Repurchase Stock by Corning That Had Been I...
NY-ADR
11/5/08 N.Y. St. Reg. PSC-45-08-00020-P
NEW YORK STATE REGISTER
VOLUME XXX, ISSUE 45
November 05, 2008
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-45-08-00020-P
Removal of Restrictions on Payment of Dividends and Repurchase Stock by Corning That Had Been Imposed in Orders of the PSC
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
The PSC is considering a petition filed by Corning Natural Gas Corporation (Corning) to remove an existing restriction prohibiting Corning from paying common stock dividends and/or buying back its stock.
Statutory authority:
Public Service Law, section 66
Subject:
Removal of restrictions on payment of dividends and repurchase stock by Corning that had been imposed in orders of the PSC.
Purpose:
To remove restrictions on payment of dividends.
Substance of proposed rule:
The Pubic Service Commission is considering whether to approve, deny or modify, in whole or in part, a petition by Corning Natural Gas Corporation (Corning) for authority, pursuant to PSL 66, to remove an existing restriction prohibiting Corning from paying common stock dividends and/or buying back its stock that were imposed in prior Public Service Commission Order. The Commission may approve, reject or modify, in whole or in part, the relief requested by Corning.
Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.state.ny.us/f96dir.htm For questions, contact:
Leann Ayer, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: leann_ayer@dps. state.ny.us
Data, views or arguments may be submitted to:
Jaclyn A. Brilling, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email: [email protected]
Public comment will be received until:
45 days after publication of this notice.
Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement
Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(07-G-0772SA2)
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