Franchise for Electric System in Libon, Albay

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Republic Act No. 256: Franchise for Electric System in Libon, Albay

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Title Source: Supreme Court: Franchise for Electric System in Libon, Albay

Law: Republic Act No. 256

Decision Date: Jun 14, 1948

Republic Act No. 256 grants Felix Maronilla, Jr. a franchise to operate an electric power system in Libon, Albay, subject to certain conditions and a duration of 25 years, with the provision for surrendering the franchise to the government if they decide to maintain and operate the system.

Law Summary

Government's Right to Take Over the Electric System

Provides the government the authority to take over the electric plant and enterprise at any time.
Upon government's decision to operate the system, the grantee must surrender the franchise.
The grantee is required to turn over all serviceable equipment to the government at cost.

Effectivity of the Act

The Act takes effect immediately upon its approval.
The approval date was June 14, 1948.

END