![]() ![]() A regulated water company is commonly referred to as an investor-owned utility. That is important because the CPUC comprehensively regulates those companies within its jurisdiction, controlling their provision of water service, acquisition and disposition of property, water rates and capital structure. One key question is whether a mutual water company is subject to the jurisdiction of the California Public Utilities Commission (CPUC). The typical corporate governance rules apply to board elections and actions, ownership of property, assessments and other corporate activities. Because the method of forming mutual water companies is ordinary, so are most of the rules regarding their internal governance. Code §§ 1430, but those supplement rather than supplant the general corporate laws. Code §§ 7110 et seq.), although other structures are sometimes used for tax or other reasons. There are some special corporate laws found in Corp. Code §§ 100 et seq.) or as nonprofit mutual benefit corporations (Corp. Mutuals are most commonly formed as general corporations (Corp. In California, there is no specific statute under which mutual water companies are formed or governed mutuals are created pursuant to the various general corporation statutes. Mutual water company dam and diversion works
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