California Public Utilities Code

§ 6011

PUC § 6011Div. 3 · Ch. 1 · Art. 1

Statute text

If the franchise is a renewal of a right already in existence, payment of the percentage of gross receipts shall begin at once upon the granting of the franchise. If the franchise is not a renewal of a right already in existence, no percentage shall be paid for the first five (5) years succeeding the date of the franchise, but thereafter the percentage shall be payable annually. If payment is not made, the franchise shall be forfeited.

Legislative history

Enacted by Stats. 1951, Ch. 764.