220 CMR, 50, 301

Current through Register 1533, October 25, 2024

Section 301 - Organization

This account shall include all fees paid to Federal or State governments for the privilege of incorporation and expenditures incident to organizing the corporation, partnership, or other enterprises and putting it into readiness to do business. Any amounts charged to this account shall be amortized within a reasonable period.

ITEMS

1. Cost of obtaining certificates authorizing an enterprise to engage in the public utility business.

2. Fees and expenses for incorporation.

3. Fees and expenses for mergers or consolidations.

4. Office expenses incident to organizing the utility.

5. Stock and minute books and corporate seal.

220 CMR, 50, 301

NOTE A. - This account shall not include any discounts upon securities issued or assumed; nor shall it include any costs incident to negotiating loans, selling bonds or other evidences of debt, or expenses in connection with the authorization, issuance, or sale of capital stock.

NOTE B. - Exclude from this account and include in the appropriate expense account the cost of preparing and filing papers in connection with the extension of the term of incorporation unless the first organization costs have been written off. When charges are made to this account for expenses incurred in mergers, consolidations, or reorganizations, amounts previously included herein or in similar accounts in the books of the companies concerned shall be excluded from this account.