47 CFR 53.203 - Structural and transactional requirements.

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§ 53.203 Structural and transactional requirements.

(a)Operational independence. A section 272 affiliate and the BOC of which it is an affiliate shall not jointly own transmission and switching facilities or the land and buildings where those facilities are located.

(b)Separate books, records, and accounts. A section 272 affiliate shall maintain books, records, and accounts, which shall be separate from the books, records, and accounts maintained by the BOC of which it is an affiliate.

(c)Separate officers, directors, and employees. A section 272 affiliate shall have separate officers, directors, and employees from the BOC of which it is an affiliate.

(d)Credit arrangements. A section 272 affiliate shall not obtain credit under any arrangement that would permit a creditor, upon default, to have recourse to the assets of the BOC of which it is an affiliate.

(e)Arm's-length transactions. A section 272 affiliate shall conduct all transactions with the BOC of which it is an affiliate on an arm's length basis, pursuant to the accounting rules described in § 32.27 of this chapter, with any such transactions reduced to writing and available for public inspection.

[ 62 FR 2967, Jan. 21, 1997, as amended at 69 FR 16496, Mar. 30, 2004; 70 FR 55302, Sept. 21, 2005]

Title 47 published on 09-May-2017 04:29

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 47 CFR Part 53 after this date.

  • 2013-08-26; vol. 78 # 165 - Monday, August 26, 2013
    1. 78 FR 52710 - Extension of Lines, Interconnection, Numbering, Payphone Compensation, Pole Attachment Complaint Procedures, Obligations of Local Exchange Carriers, Special Provisions Concerning Bell Operating Companies, and Area Code Relief
      GPO FDSys XML | Text
      FEDERAL COMMUNICATIONS COMMISSION
      Final rule; announcement of effective date.
      The following information collection requirements have been approved by OMB and are effective August 26, 2013:
      47 CFR Parts 1, 51, 52, 53, 63, and 64