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The Arizona Corporation Commission
The Arizona Corporation Commission (ACC) is an independent regulatory body created by the Arizona Constitution. Some people describe it as a fourth branch of government. There are 5 members of the Commission elected by the public to a four-year term. The ACC authority extends beyond traditional public utilities regulation. This powerful body makes important decisions that will impact public safety and quality of life, business and economic development, and the future of the state. The following describes the CommissionŐs Constitutional and Statutory authorities:
Utilities Regulation
The commission is the state regulatory authority that makes decisions that affect the quality of service, utility rates, and future investments by public utilities, including telecommunications, water, electric and gas. By state law utilities are regulated monopolies and are given the opportunity to earn a fair and reasonable return on their investments. The Commission is required to reach a balance between what is a fair and reasonable return on investment, and service that is reliable and affordable for all consumers. What is fair and reasonable is debated in rate hearings where final decisions are made by the Commission in an Open Meeting.
http://www.cc.state.az.us/utility/index.htm
Corporations
The Commission oversees corporations including granting corporate status for businesses and organizations and maintaining public records. The Corporations Division approves for filing all articles of incorporation for Arizona businesses and organizations, and all articles of organization for limited liability companies. It also grants authority to foreign corporations to transact business in this state. When necessary, the Commission investigates to determine a company's lawful purpose, and they revoke the corporate charter of those corporations not in compliance with Arizona law. Every corporation is required to file an annual report which reflects its current status, business, and financial condition. The Commission maintains this information for public access, responds to public questions concerning businesses and corporation law, and disseminates important information to businesses.
http://www.cc.state.az.us/corp/index.htm
Securities
The Commission serves as a watchdog ensuring the integrity of the securities marketplace and protecting the public from investment scams and fraud through investigative actions and registering, monitoring and investigating securities, securities dealers and brokers, investment advisers and their representatives. To enhance legitimate capital formation the Commission reviews prospective offerings of securities to ascertain that full and fair disclosure is made to potential investors and that the terms of offerings are not inherently fraudulent. When the evidence warrants, they initiate administrative, civil or criminal enforcement actions.
http://www.ccsd.cc.state.az.us/
Railroad and Pipeline Safety
The Commission, under the supervision of the Federal railroad and Pipeline safety division, insures the safe operations of railroads and gas pipelines in Arizona. Staff inspects gas pipelines for safety and operates a railroad safety program.
http://www.cc.state.az.us/safety/index-rr.htm
http://www.cc.state.az.us/safety/index.htm
The Commissioners have the ultimate responsibility for final decisions on granting or denying rate adjustments, enforcing safety and public service requirements, and approving securities matters. The Commissioners function in an Executive capacity, they adopt rules and regulations thereby functioning in a Legislative capacity, and they also act in a Judicial capacity sitting as a tribunal and making decisions in contested matters.
