Account 409.1, Income taxes, operating income.
CFR · 2024-01-01 · US · Title 18
This account must include the amount of those local, state and Federal income taxes that relate to service company operating income.
official document · source cfr-2024
Legal · US
225,069 document(s) from the ingested source(s); showing 100.
Account 409.2, Income taxes, other income and deductions.
CFR · 2024-01-01 · US · Title 18
This account must include the amount of those local, state and Federal income taxes (both positive and negative), that relate to other income and deductions.
official document · source cfr-2024
Account 409.3, Income taxes, extraordinary items.
CFR · 2024-01-01 · US · Title 18
This account must include the amount of those local, state and Federal income taxes (both positive and negative), that relate to extraordinary items.
official document · source cfr-2024
Account 410.1, Provision for deferred income taxes, operating income.
CFR · 2024-01-01 · US · Title 18
This account must include the amounts of those deferrals of taxes and allocations of deferred taxes that relate to service company operating income.
official document · source cfr-2024
Account 410.2, Provision for deferred income taxes, other income and deductions.
CFR · 2024-01-01 · US · Title 18
This account must include the amounts of those deferrals of taxes and allocations of deferred taxes that relate to other income and deductions.
official document · source cfr-2024
Account 411.1, Provision for deferred income taxes—Credit, operating income.
CFR · 2024-01-01 · US · Title 18
This account must include the amounts of those allocations of deferred taxes and deferrals of taxes, credit, that relate to service company operating income.
official document · source cfr-2024
Account 411.10, Accretion expense.
CFR · 2024-01-01 · US · Title 18
This account must be charged for accretion expense on the liabilities associated with asset retirement obligations included in account 230, Asset retirement obligations (§ 367.2300), related to service company property.
official document · source cfr-2024
Account 411.2, Provision for deferred income taxes—Credit, other income and deductions.
CFR · 2024-01-01 · US · Title 18
This account must include the amounts of those allocations of deferred taxes and deferrals of taxes, credit, that relate to other income and deductions.
official document · source cfr-2024
Account 411.4, Investment tax credit adjustments, service company property.
CFR · 2024-01-01 · US · Title 18
This account must include the amount of those investment tax credit adjustments that relate to service company property.
official document · source cfr-2024
Account 411.5, Investment tax credit adjustments, other.
CFR · 2024-01-01 · US · Title 18
This account must include the amount of those investment tax credit adjustments not properly included in other accounts.
official document · source cfr-2024
Account 411.6, Gains from disposition of service company plant.
CFR · 2024-01-01 · US · Title 18
(a) The service company must record in this account gains resulting from the settlement of asset retirement obligations related to service company plant in accordance with the accounting prescribed in General Instructions in § 367.22. (b) Income taxes relating to losses, recorded in this account must be recorded in Account 409.1, Income Taxes, operating income (§ 367.4091).
official document · source cfr-2024
Account 411.7, Losses from disposition of service company plant.
CFR · 2024-01-01 · US · Title 18
(a) The service company must record in this account losses resulting from the settlement of asset retirement obligations related to service company plant in accordance with the accounting prescribed in General Instructions in § 367.22. (b) Income taxes relating to losses, recorded in this account must be recorded in Account 409.1, Income Taxes, operating income (§ 367.4091).
official document · source cfr-2024
Account 412, Cost and expenses of construction or other services.
CFR · 2024-01-01 · US · Title 18
This account must include expenditures related to the performance of construction or service contracts, under which the service company undertakes projects to construct physical property for associate or non-associate companies (see General Instructions § 367.24, Construction and service contracts for other companies) and the cost of services performed for others not provided for elsewhere.
official document · source cfr-2024
Account 416, Costs and expenses of merchandising, jobbing and contract work.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the following labor items for services provided: (1) Canvassing and demonstrating appliances in homes and other places for the purpose of selling appliances. (2) Demonstrating and selling activities in sales rooms. (3) Installing appliances on customer premises where the work is done only for purchasers of appliances from the associated company. (4) Installing wiring, piping, or other property work, on a jobbing or contract basis. (5) Preparing advertising materials for appliance sales purposes. (6) Receiving and handling customer orders for merchandise or for jobbing services. (7) Cleaning and tidying sales rooms. (8) Maintaining display counters and other equipment used in merchandising. (9) Arranging merchandise in sales rooms and decorating display windows. (10) Reconditioning repossessed appliances. (11) Bookkeeping and other clerical work in connection with merchandise and jobbing activities. (12) Supervising merchandise and jobbing operations. (b) This account must include the following materials and expenses items: (1) Advertising in newspapers, periodicals, radio, television, and other similar items. (2) Cost of merchandise sold and of materials used in jobbing work. (3) Stores expenses on merchandise and jobbing stocks. (4) Fees and expenses of advertising and commercial artists' agencies. (5) Printing booklets, dodgers, and other advertising data. (6) Premiums given as inducement to buy appliances. (7) Light, heat and power. (8) Deprec
official document · source cfr-2024
Account 418, Non-operating rental income.
CFR · 2024-01-01 · US · Title 18
(a) The expenses shall include all elements of costs incurred in the ownership and rental of property and the accounts shall be maintained so as to permit ready summarization of operation, maintenance, rents, depreciation, and amortization. (b) Related taxes shall be recorded in Account 408.2, Taxes other than income taxes, other income and deductions (§ 367.4082) or Account 409.2, Income taxes, other income and deductions (§ 367.4092), as appropriate.
official document · source cfr-2024
Account 418.1, Equity in earnings of subsidiary companies.
CFR · 2024-01-01 · US · Title 18
This account must include the service company's equity in the earnings or losses of subsidiary companies for the year.
official document · source cfr-2024
Account 419, Interest and dividend income.
CFR · 2024-01-01 · US · Title 18
(a) This account must include interest revenues on securities, loans, notes, advances, special deposits, tax refunds and all other interest-bearing assets, and dividends on stocks of other companies, whether the securities on which the interest and dividends are received are carried as investments or included in sinking or other special fund accounts. (b) This account may include the (c) Where significant in amount, expenses, excluding operating taxes and income taxes, applicable to security investments and to interest and dividend revenues on the account must be charged in this account. (d) Related taxes must be recorded in account 408.2, Taxes other than income taxes, other income and deductions (§ 367.4082), or account 409.2, Income taxes, other income and deductions (§ 367.4092). (e) Interest accrued, the payment of which is not reasonably assured, dividends receivable that have not been declared or guaranteed, and interest or dividends upon reacquired securities issued or assumed by the service company must not be credited to this account.
official document · source cfr-2024
Account 419.1, Allowance for other funds used during construction.
CFR · 2024-01-01 · US · Title 18
This account must include concurrent credits for allowance for other funds used during construction.
official document · source cfr-2024
Account 421, Miscellaneous income or loss.
CFR · 2024-01-01 · US · Title 18
This account must include all revenue and expense items except taxes properly includible in the income account and not provided for elsewhere. Related taxes must be recorded in account 408.2, Taxes other than income taxes, other income and deductions
official document · source cfr-2024
Account 421.1, Gain on disposition of property.
CFR · 2024-01-01 · US · Title 18
This account must be credited with the gain on the sale, conveyance, exchange, or transfer of service or other property to another. Income taxes on gains recorded in this account must be recorded in account 409.2, Income taxes, other income and deductions (§ 367.4092).
official document · source cfr-2024
Account 421.2, Loss on disposition of property.
CFR · 2024-01-01 · US · Title 18
This account must be charged with the loss on the sale, conveyance, exchange or transfer of service or other property to another. The reduction in income taxes relating to losses recorded in this account must be recorded in account 409.2, Income taxes, other income and deductions (§ 367.4092).
official document · source cfr-2024
Account 425, Miscellaneous amortization.
CFR · 2024-01-01 · US · Title 18
(a) This account must include amortization charges not includible in other accounts which are properly deductible in determining the income of the service company before interest charges. Charges included in this account, if significant in amount, must be in accordance with an orderly and systematic amortization program. (b) This account must include the following items: (1) Amortization of intangibles included in service company property. (2) Other miscellaneous amortization charges authorized to be included in this account by the Commission.
official document · source cfr-2024
Account 426.1, Donations.
CFR · 2024-01-01 · US · Title 18
This account must include all payments or donations for charitable, social or community welfare purposes.
official document · source cfr-2024
Account 426.2, Life insurance.
CFR · 2024-01-01 · US · Title 18
This account must include all payments for life insurance of officers and employees where the service company is beneficiary (net premiums less increase in cash surrender value of policies).
official document · source cfr-2024
Account 426.3, Penalties.
CFR · 2024-01-01 · US · Title 18
This account must include payments by the service company for penalties or fines for violation of any regulatory statutes by the service company or its officials.
official document · source cfr-2024
Account 426.4, Expenditures for certain civic, political and related activities.
CFR · 2024-01-01 · US · Title 18
(a) This account must include expenditures for the purpose of influencing public opinion with respect to the election or appointment of public officials, referenda, legislation, or ordinances (either with respect to the possible adoption of new referenda, legislation or ordinances or repeal or modification of existing referenda, legislation or ordinances) or approval, modification, or revocation of franchises; or for the purpose of influencing the decisions of public officials. (b) This account must not include expenditures that are directly related to appearances before regulatory or other governmental bodies in connection with an associate utility company's existing or proposed operations.
official document · source cfr-2024
Account 426.5, Other deductions.
CFR · 2024-01-01 · US · Title 18
This account must include other miscellaneous expenses that are not properly included in service company operations.
official document · source cfr-2024
Account 427, Interest on long-term debt.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the amount of interest on outstanding long-term debt issued or assumed by the service company, the liability for which is included in account 224, Other long-term debt (§ 367.2240). (b) This account must be kept or supported so as to show the interest accruals on each class and series of long-term debt. (c) This account must not include interest on nominally issued or nominally outstanding long-term debt, including securities assumed.
official document · source cfr-2024
Account 428, Amortization of debt discount and expense.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the amortization of unamortized debt discount and expense on outstanding long- (b) This account must be kept or supported so as to show the debt discount and expense on each class and series of long-term debt.
official document · source cfr-2024
Account 429, Amortization of premium on debt—Credit.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the amortization of unamortized net premium on outstanding long-term debt. Amounts credited to this account must be charged concurrently to account 225, Unamortized premium on long-term debt (§ 367.2250). (b) This account must be kept or supported so as to show the premium on each class and series of long-term debt. (c) This account must include the following items: (1) Loss relating to investments in securities written-off or written-down. (2) Loss on sale of investments. (3) Loss on reacquisition, resale or retirement of service company's debt securities. (4) Preliminary survey and investigation expenses related to abandoned projects, when not written-off to the appropriate operating expense account.
official document · source cfr-2024
Account 430, Interest on debt to associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include interest accrued on amounts included in account 223, Advances from associate companies (§ 367.2230), and account 233, Notes payable to associate companies (§ 367.2330). The records supporting the entries to this account must be kept so as to show to who the interest is to be paid, the period covered by the accrual, the rate of interest and the principal amount of the advances or other obligations on which the interest is accrued. Separate subaccounts must be maintained for each related debt account.
official document · source cfr-2024
Account 431, Other interest expense.
CFR · 2024-01-01 · US · Title 18
This account must include all interest charges not provided for elsewhere.
official document · source cfr-2024
Account 432, Allowance for borrowed funds used during construction—Credit.
CFR · 2024-01-01 · US · Title 18
This account must include concurrent credits for allowance for borrowed funds used during construction.
official document · source cfr-2024
Account 433, Balance transferred from income.
CFR · 2024-01-01 · US · Title 18
This account must include the net credit or debit transferred from income for the year.
official document · source cfr-2024
Account 434, Extraordinary income.
CFR · 2024-01-01 · US · Title 18
This account must be credited with gains of unusual nature and infrequent occurrence that would significantly distort the current year's income computed before extraordinary items, if reported other than as extraordinary items. Income tax relating to the amounts recorded in this account must be recorded in account 409.3, Income taxes, extraordinary items (§ 367.4093) (See General Instructions in § 367.8).
official document · source cfr-2024
Account 435, Extraordinary deductions.
CFR · 2024-01-01 · US · Title 18
This account must be debited with losses of unusual nature and infrequent occurrence that would significantly distort the current year's income computed before extraordinary items, if reported other than as extraordinary items. Income tax relating to the amounts recorded in this account must be recorded in account 409.3, Income taxes, extraordinary items (§ 367.4093) (
official document · source cfr-2024
Account 436, Appropriations of retained earnings.
CFR · 2024-01-01 · US · Title 18
This account must include appropriations of retained earnings as follows: (a) Appropriations required under terms of mortgages, orders of courts, contracts, or other agreements. (b) Appropriations required by action of regulatory authorities. (c) Other appropriations made at option of the service company for specific purposes.
official document · source cfr-2024
Account 437, Dividends declared—preferred stock.
CFR · 2024-01-01 · US · Title 18
(a) This account must include amounts declared payable out of retained earnings as dividends on actually outstanding preferred or prior lien capital stock issued by the service company. (b) Dividends must be segregated for each class and series of preferred stock as to those payable in cash, stock, and other forms. If not payable in cash, the medium of payment must be described with sufficient detail to identify it.
official document · source cfr-2024
Account 438, Dividends declared—common stock.
CFR · 2024-01-01 · US · Title 18
(a) This account must include amounts declared payable out of retained earnings as dividends on actually outstanding common capital stock issued by the service company. (b) Dividends must be segregated for each class of common stock as to those payable in cash, stock and other forms. If not payable in cash, the medium of payment must be described with sufficient detail to identify it.
official document · source cfr-2024
Account 439, Adjustments to retained earnings.
CFR · 2024-01-01 · US · Title 18
(a) This account must, with prior Commission approval, include significant non-recurring transactions accounted for as prior period adjustments, as follows: (1) Correction of an error in the financial statements of a prior year. (2) Adjustments that result from realization of income tax benefits of reacquisition operating loss carry forwards of purchased subsidiaries. All other items of profit and loss recognized during a year must be included in the determination of net income for that year. (b) Adjustments, charges, or credits due to losses on reacquisition, resale or retirement of the company's own capital stock must be included in this account.
official document · source cfr-2024
Account 457, Services rendered to associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include amounts billed to associate companies for services rendered at cost (
official document · source cfr-2024
Account 457.1, Direct costs charged to associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include those direct costs that can be identified through a cost allocation system as being applicable to services performed for associate companies. This account must not include any compensation for use of equity capital or inter-company interest on indebtedness.
official document · source cfr-2024
Account 457.2, Indirect costs charged to associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include recovery of those indirect costs that cannot be separately identified to a single or group of associate companies and therefore must be allocated. Only journal or memorandum entries should be prepared monthly, by departments, for all such cost accumulated and billed to customers. Amounts billed to associate companies must be included in this account. This account must not include any compensation for use of equity capital or inter-company interest on indebtedness.
official document · source cfr-2024
Account 457.3, Compensation for use of capital-associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include only the portion of compensation for use of equity capital and inter-company interest on indebtedness before income taxes that is properly allocable to services rendered to each associate company.
official document · source cfr-2024
Account 458, Services rendered to non-associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include amounts billed for services rendered to non-associate companies (
official document · source cfr-2024
Account 458.1, Direct costs charged to non-associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include those direct costs that can be identified through a cost allocation system as being applicable to services performed for non-associate companies. This account must not include any compensation for use of equity capital or interest on indebtedness.
official document · source cfr-2024
Account 458.2, Indirect costs charged to non-associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include recovery of those indirect costs of services performed for non-associate companies that cannot be specifically assigned and therefore must be allocated. This account must not include any compensation for use of equity capital or inter-company interest on indebtedness.
official document · source cfr-2024
Account 458.3, Compensation for use of capital—Non-associate companies.
CFR · 2024-01-01 · US · Title 18
This account must include only the portion of compensation for use of equity capital and inter-company interest on indebtedness before income taxes that is properly allocable to services rendered to non-associate utility companies. A statement to support the basis for the compensation and how it was calculated must be attached to a separate journal entry, ledger system, or memorandum file.
official document · source cfr-2024
Account 458.4, Excess or deficiency on servicing non-associate utility companies.
CFR · 2024-01-01 · US · Title 18
This account must include the amount by which the aggregate price received for services rendered to non-associate utility companies differs from the sum of the total direct and indirect costs and compensation for use of capital which are properly allocable to such services (
official document · source cfr-2024
Account 901, Supervision.
CFR · 2024-01-01 · US · Title 18
This account must include the cost of labor and expenses incurred in the general direction and supervision of customer accounting and collecting activities. Direct supervision of a specific activity must be charged to account 902, Meter reading expenses (§ 367.9020), or account 903, Customer records and collection expenses (§ 367.9030), as appropriate (
official document · source cfr-2024
Account 902, Meter reading expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred in reading customer meters, and determining consumption when performed by employees engaged in reading meters. (b) This account must include the following labor items: (1) Addressing forms for obtaining meter readings by mail. (2) Changing and collecting meter charts used for billing purposes. (3) Inspecting time clocks, checking seals, and other similar items, when performed by meter readers and the work represents a minor activity incidental to regular meter reading routine. (4) Reading meters, including demand meters, and obtaining load information for billing purposes. Exclude and charge to account 586, Meter expenses (§ 367.5000), account 878, Meter and house regulator expenses (§ 367.8000), or to account 903, Customer records and (5) Computing consumption from meter reader's book or from reports by mail when done by employees engaged in reading meters. (6) Collecting from prepayment meters when incidental to meter reading. (7) Maintaining record of customers” keys. (8) Computing estimated or average consumption when performed by employees engaged in reading meters. (c) This account must include the following materials and expenses items: (1) Badges, lamps, and uniforms. (2) Demand charts, meter books and binders and forms for recording readings, but not the cost of preparation. (3) Postage and supplies used in obtaining meter readings by mail. (4) Transportation, meals, and incidental
official document · source cfr-2024
Account 903, Customer records and collection expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred in work on customer applications, contracts, orders, credit investigations, billing and accounting, collections and complaints. (b) This account must include the following labor items: (1) Receiving, preparing, recording and handling routine orders for service, disconnections, transfers or meter tests initiated by the customer, excluding the cost of carrying out the orders, that is chargeable to the account appropriate for the work called for by the orders. (2) Investigations of customers” credit and keeping of records pertaining to the investigations, including records of uncollectible accounts written off. (3) Receiving, refunding or applying customer deposits and maintaining customer deposit, line extension, and other miscellaneous records. (4) Checking consumption shown by meter readers” reports where incidental to preparation of billing data. (5) Preparing address plates and addressing bills and delinquent notices. (6) Preparing billing data. (7) Operating billing and bookkeeping machines. (8) Verifying billing records with contracts or rate schedules. (9) Preparing bills for delivery, and mailing or delivering bills. (10) Collecting revenues, including collection from prepayment meters unless incidental to meter-reading operations. (11) Balancing collections, preparing collections for deposit, and preparing cash reports. (12) Posting collections and other credits or charges to customer
official document · source cfr-2024
Account 904, Uncollectible accounts.
CFR · 2024-01-01 · US · Title 18
This account must be charged with amounts sufficient to provide for losses from uncollectible service company revenues. Concurrent credits must be made to account 144, Accumulated provision for uncollectible accounts—Credit (§ 367.1440). Losses from uncollectible accounts also must be charged to account 144 (§ 367.1440).
official document · source cfr-2024
Account 905, Miscellaneous customer accounts expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred not provided for in other accounts. (b) This account must include the following labor items: (1) General clerical and stenographic work. (2) Miscellaneous labor. (c) This account must include the following materials and expenses items: (1) Communication service. (2) Miscellaneous office supplies and expenses and stationery and printing other than those specifically provided for in accounts 902 and 903 (§§ 367.9020 and 367.9030).
official document · source cfr-2024
Account 907, Supervision.
CFR · 2024-01-01 · US · Title 18
This account must include the cost of labor and expenses incurred in the general direction and supervision of customer service activities, the object of which is to encourage safe, efficient and economical use of the associate utility company's service. Direct supervision of a specific activity within customer service and informational expense classification must be charged to the account wherein the costs of such activity are included (
official document · source cfr-2024
Account 908, Customer assistance expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred in providing instructions or assistance to customers, the object of which is to encourage safe, efficient and economical use of the associate utility company's service. (b) This account must include the following labor items: (1) Direct supervision of department. (2) Processing customer inquiries relating to the proper use of electric equipment, the replacement of such equipment and information related to the equipment. (3) Advice directed to customers as to how they may achieve the most efficient and safest use of electric equipment. (4) Demonstrations, exhibits, lectures, and other programs designed to instruct customers in the safe, economical or efficient use of electric service, and/or oriented toward conservation of energy. (5) Engineering and technical advice to customers, the object of which is to promote safe, efficient and economical use of the associate utility company's service. (c) This account must include the following materials and expenses items: (1) Supplies and expenses pertaining to demonstrations, exhibits, lectures, and other programs. (2) Loss in value on equipment and appliances used for customer assistance programs. (3) Office supplies and expenses. (4) Transportation, meals, and incidental expenses. (d) Do not include in this account expenses that are provided for elsewhere, such as accounts 416, Costs and expenses of merchandising, jobbing and contract work (§ 367.
official document · source cfr-2024
Account 909, Informational and instructional advertising expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred in activities which primarily convey information as to what the associate utility company urges or suggests customers should do in utilizing service to protect health and safety, to encourage environmental protection, to utilize their equipment safely and economically, or to conserve energy. (b) This account must include the following labor items: (1) Direct supervision of informational activities. (2) Preparing informational materials for newspapers, periodicals, billboards, and other similar forms of advertisement, and preparing and conducting informational motion pictures, radio and television programs. (3) Preparing informational booklets, bulletins, and other similar forms of advertisement, used in direct mailings. (4) Preparing informational window and other displays. (5) Employing agencies, selecting media and conducting negotiations in connection with the placement and subject matter of information programs. (c) This account must include the following materials and expenses items: (1) Use of newspapers, periodicals, billboards, radio, and other similar forms of advertisement, for informational purposes. (2) Postage on direct mailings to customers exclusive of postage related to billings. (3) Printing of informational booklets, dodgers, bulletins, and other similar items. (4) Supplies and expenses in preparing informational materials for the associate utility company. (5) Office suppl
official document · source cfr-2024
Account 910, Miscellaneous customer service and informational expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred in connection with customer service and informational activities that are not includible in other customer information expense accounts. (b) This account must include the following labor items: (1) General clerical and stenographic work not assigned to specific customer service and informational programs. (2) Miscellaneous labor. (c) This account must include the following materials and expenses items: (1) Communication service. (2) Printing, postage and office supplies expenses.
official document · source cfr-2024
Account 911, Supervision.
CFR · 2024-01-01 · US · Title 18
This account must include the cost of labor and expenses incurred in the general direction and supervision of sales activities, except merchandising. Direct supervision of a specific activity, such as demonstrating, selling, or advertising, must be charged to the account wherein the costs of such activity are included (
official document · source cfr-2024
Account 912, Demonstrating and selling expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred in promotional, demonstrating, and selling activities, except by merchandising, the object of (b) This account must include the following labor items: (1) Demonstrating uses of services provided by companies within the holding company system. (2) Conducting cooking schools, preparing recipes, and related home service activities. (3) Exhibitions, displays, lectures, and other programs to promote the services provided by the service company or the companies within the holding company system. (4) Experimental and development work in connection with new and improved appliances and equipment, prior to general public acceptance. (5) Solicitation of new customers or of additional business from old customers, including commissions paid employees. (6) Engineering and technical advice to present or prospective customers in connection with promoting or retaining the use of services. (7) Special customer canvasses when their primary purpose is the retention of business or the promotion of new business. (c) This account must include the following materials and expenses items: (1) Supplies and expenses pertaining to demonstration and experimental and development activities. (2) Booth and temporary space rental. (3) Loss in value on equipment and appliances used for demonstration purposes. (4) Transportation, meals, and incidental expenses.
official document · source cfr-2024
Account 913, Advertising expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred in advertising designed to promote or retain the use of services provided by the service company or the companies within the holding company system, except advertising the sale of merchandise. (b) This account must include the following labor items: (1) Direct supervision of department. (2) Preparing advertising material for newspapers, periodicals, billboards, and other similar forms of advertisement, and preparing and conducting motion pictures, radio and television programs. (3) Preparing booklets, bulletins, and other similar forms of advertisement, used in direct mail advertising. (4) Preparing window and other displays. (5) Clerical and stenographic work. (6) Investigating advertising agencies and media and conducting negotiations in connection with the placement and subject matter of sales advertising. (c) This account must include the following materials and expenses items: (1) Advertising in newspapers, periodicals, billboards, radio, and other similar forms of advertisement, for sales promotion purposes, but not including institutional or goodwill advertising included in account 930.1, General advertising expenses (§ 367.9301). (2) Materials and services given as prizes or otherwise in connection with civic lighting contests, canning, or cooking contests, bazaars, and other similar materials and services, in order to publicize and promote the use of utility services. (3) Fees and e
official document · source cfr-2024
Account 916, Miscellaneous sales expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used and expenses incurred in connection with sales activities, except merchandising, which are not includible in other sales expense accounts. (b) This account must include the following labor items: (1) General clerical and stenographic work not assigned to specific functions. (2) Special analysis of customer accounts and other statistical work for sales purposes not a part of the regular customer accounting and billing routine. (3) Miscellaneous labor. (c) This account must include the following materials and expenses items: (1) Communication service. (2) Printing, postage, and office supplies and expenses applicable to sales activities, except those chargeable to account 913, Advertising expenses (§ 367.9130).
official document · source cfr-2024
Account 920, Administrative and general salaries.
CFR · 2024-01-01 · US · Title 18
(a) This account must include salaries, wages, bonuses and other consideration for services, with the exception of director's fees paid directly to officers and employees of the service company. (b) This account must be supported by time records and appropriately referenced to detailed records subdividing salaries and wages by departments or other functional organization units.
official document · source cfr-2024
Account 921, Office supplies and expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include office supplies and expenses incurred in connection with the general administration of service company operations assignable to specific administrative or general departments and not specifically provided for in other accounts. This includes the expenses of the various administrative and general departments, the salaries and wages of which are included in account 920, Administrative and general salaries (§ 367.9200). (b) This account may be subdivided in accordance with a classification appropriate to the departmental or other functional organization of the service company. The following items must be included in this account: (1) Automobile service, including charges through clearing account. (2) Bank messenger and service charges. (3) Books, periodicals, bulletins and subscriptions to newspapers, newsletters, tax service, and other similar items. (4) Building service expenses for customer accounts, sales, and administrative and general purposes. (5) Communication service expenses to include telephone, telegraph, wire transfer, micro-wave, and other similar items. (6) Cost of individual items of office equipment used by general departments which are of small value or short life. (7) Membership fees and dues in trade, technical, and professional associations paid by a utility for employees. (Company memberships must be included in account 930.2 in § 367.9302.) (8) Office supplies and expenses. (9) Payment of court costs, witness fees, and other e
official document · source cfr-2024
Account 923, Outside services employed.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the fees and expenses of professional consultants and others for general services with the exception of fees and expenses for outside services of account 928, Regulatory commission expenses (§ 367.9280), and account 930.1, General advertising expenses (§ 367.9301). Separate subaccounts must be provided for auditing, legal, engineering, management consulting fees and any other fees for professional or outside services. (b) Records must be maintained so as to permit ready analysis showing the nature of service, identity of the person furnishing the service, affiliation to the service company, and, if allocated to more than one company, the specific method of allocation.
official document · source cfr-2024
Account 924, Property insurance.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of insurance or reserve accruals to protect the service company against losses and damages to owned or leased property used in service company operations. It also must include the cost of labor and related supplies and expenses incurred in property insurance activities. (b) Recoveries from insurance companies or others for property damages must be credited to the account charged with the cost of the damage. If the damaged property has been retired, the credit must be to the appropriate account for accumulated provision for depreciation. (c) Records must be kept so as to show the amount of coverage for each class of insurance carried, the property covered, and the applicable premiums. Any dividends distributed by mutual insurance companies must be credited to the accounts to which the insurance premiums were charged. The following items must be included in this account: (1) Premiums payable to insurance companies for fire, storm, burglary, boiler explosion, lightning, fidelity, riot, and similar insurance. (2) Special costs incurred in procuring insurance. (3) Insurance inspection service. (4) Insurance counsel, brokerage fees, and expenses. (d) The cost of insurance or reserve accruals capitalized must be charged to construction either directly or by transfer to construction projects from this account. (e) The cost of insurance or reserve accruals for the following classes of property must be charged as indicated. (1) Materials and suppl
official document · source cfr-2024
Account 925, Injuries and damages.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of insurance or reserve accruals to protect the service company against injuries and damages claims of employees or others, losses of such character not covered by insurance, and expenses incurred in settlement of injuries and damages claims. It also must include the cost of labor and related supplies and expenses incurred in injuries and damages activities. (b) Reimbursements from insurance companies or others for expenses charged to this account because of injuries and damages and insurance dividends or refunds must be credited to this account. The following items must be included in this account: (1) Premiums payable to insurance companies for protection against claims from injuries and damages by employees or others, such as public liability, property damages, casualty, employee liability, and other similar items. (2) Losses not covered by insurance or reserve accruals on account of injuries or deaths to employees or others and damages to the property of others. (3) Fees and expenses of claim investigators. (4) Payment of awards to claimants for court costs and attorneys' services. (5) Medical and hospital service and expenses for employees as the result of occupational injuries, or resulting from claims of others. (6) Compensation payments under workmen's compensation laws. (7) Compensation paid while incapacitated as the result of occupational injuries ( (8) Cost of safety, accident prevention and similar educational activities. (c
official document · source cfr-2024
Account 926, Employee pensions and benefits.
CFR · 2024-01-01 · US · Title 18
(a) This account must include pensions paid to, or on behalf of, retired employees, or accruals to provide for pensions, or payments for the purchase of annuities for this purpose, when the service company has definitely, by contract, committed itself to a pension plan under which the pension funds are irrevocably devoted to pension purposes, and payments for employee accident, sickness, hospital, and death benefits, or insurance related to this account. Include, also, expenses incurred in medical, educational or recreational activities for the benefit of employees, and administrative expenses in connection with employee pensions and benefits. (b) The service company must maintain a complete record of accruals or payments for pensions and be prepared to furnish full information to the Commission of the plan under which it has created or proposes to create a pension fund and a copy of the declaration of trust or resolution under which the pension plan is established. (c) Records in support of this account must be kept so that the total pensions expense, the total benefits expense, the administrative expenses included in this account, and the amounts of pensions and benefits expenses transferred to construction or other accounts will be readily available. The following items must be included in this account: (1) Payment of pensions under a non-accrual or non-funded basis. (2) Accruals for or payments to pension funds or to insurance companies for pension purposes. (3) Group and
official document · source cfr-2024
Account 928, Regulatory commission expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include all expenses, properly included in service company operating expenses, incurred by the service company in connection with formal cases before regulatory commissions, or other regulatory bodies, on its own behalf or on behalf of associate companies, including payments made to a regulatory commission for fees assessed to the service company for pay and expenses of such commission, its officers, agents and employees, and for filings or reports made under regulations of regulatory commissions. The service company must be prepared to show the cost of each formal case. The following items must be included in this account: (1) Salaries, fees, retainers, and expenses of counsel, solicitors, attorneys, accountants, engineers, clerks, attendants, witnesses, and others engaged in the prosecution of, or defense against petitions or complaints presented to regulatory bodies. (2) Office supplies and expenses, payments to public service or other regulatory commissions, stationery and printing, traveling expenses, and other expenses incurred directly in connection with formal cases before regulatory commissions. (b) Exclude from this account and include in other appropriate operating expense accounts, expenses incurred in the improvement of service, additional inspection, or rendering reports, which are made necessary by the rules and regulations, or orders, of regulatory bodies.
official document · source cfr-2024
Account 930.1, General advertising expenses for associated companies.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of labor, materials used, and expenses incurred in advertising and related activities, the cost of which by their content and purpose are not provided for elsewhere. (b) This account must include the following labor items: (1) Supervision. (2) Preparing advertising material for newspapers, periodicals, billboards, and other similar items, and preparing or conducting motion pictures, radio and television programs. (3) Preparing booklets, bulletins, and other similar forms of advertisement, used in direct mail advertising. (4) Preparing window and other displays. (5) Clerical and stenographic work. (6) Investigating and employing advertising agencies, selecting media and conducting negotiations in connection with the placement and subject matter of advertising. (c) This account must include the following materials and expenses items: (1) Advertising in newspapers, periodicals, billboards, radio, and other similar forms of advertisement. (2) Advertising matter such as posters, bulletins, booklets, and related items. (3) Fees and expenses of advertising agencies and commercial artists. (4) Postage and direct mail advertising. (5) Printing of booklets, dodgers, bulletins, and other related items. (6) Supplies and expenses in preparing advertising materials. (7) Office supplies and expenses. (d) Properly includible in this account is the cost of advertising activities on a local or national basis of a good will or institutional nature, which i
official document · source cfr-2024
Account 930.2, Miscellaneous general expenses.
CFR · 2024-01-01 · US · Title 18
(a) This account must include the cost of expenses incurred in connection with the general management of the service company not provided for elsewhere. (b) This account must include labor items including miscellaneous labor not elsewhere provided for. (c) This account must include the following expenses items: (1) Industry association dues for company memberships. (2) Contributions for conventions and meetings of the industry. (3) Research, development, and demonstration expenses not charged to other operation and maintenance expense accounts on a functional basis. (4) Communication service not chargeable to other accounts. (5) Trustee, registrar, and transfer agent fees and expenses. (6) Stockholders meeting expenses. (7) Dividend and other financial notices. (8) Printing and mailing dividend checks. (9) Directors' fees and expenses. (10) Publishing and distributing annual reports to stockholders. (11) Public notices of financial, operating and other data required by regulatory statutes, not including, however, notices required in connection with security issues or acquisitions of property. (d) Records must be maintained so as to permit ready analysis by item showing the nature of the expense and identity of the person furnishing the service.
official document · source cfr-2024
Account 931, Rents.
CFR · 2024-01-01 · US · Title 18
This account must include rents, including taxes, paid for the property of others used, occupied or operated in connection with service company functions. Provide subaccounts for major groupings such as office space, warehouses, other structure, office furniture, fixtures, computers, data processing equipment, microwave and telecommunication equipment, airplanes, automobiles, and other similar groupings of property. The cost, when incurred by the lessee, of operating and maintaining leased property, must be charged to the accounts appropriate for the expense as if the property were owned.
official document · source cfr-2024
Account 935, Maintenance of structures and equipment.
CFR · 2024-01-01 · US · Title 18
This account must include materials used and expenses incurred in the maintenance of property owned, the cost of which is included in accounts 390 through 399 (§§ 367.3900 through 367.3990), and of property leased from others. Provide subaccounts by major classes of structures and equipment, owned and leased.
official document · source cfr-2024
Account and security information in UCC cases.
CFR · 2024-01-01 · US · Title 7
Within 2 weeks after receipt of a written request from the borrower, the Agency must inform the borrower of the security and the total unpaid balance of the Agency indebtedness covered by the Financing Statement. (a) If the Agency fails to provide the information, it may be liable for any loss caused the borrower and, in some States, other parties, and also may lose some of its security rights. The UCC provides that the borrower is entitled to such information once every 6 months without charge, and the Agency may charge up to $10 for each additional statement. However, the Agency provides them without charge. (b) Although the UCC only requires the Agency to give information pursuant to the borrower's written request, the Agency will also answer oral requests. Furthermore, the UCC does not prohibit giving this information to others who have a proper need for it, such as a bank or another creditor contemplating advancing additional credit to the borrower.
official document · source cfr-2024
Account certificate of representation.
CFR · 2024-01-01 · US · Title 40
(a) A complete account certificate of representation for a NO (1) Identification of the NO (2) The name, address, e-mail address (if any), telephone number, and facsimile transmission number (if any) of the NO (3) A list of the owners and operators of the NO (4) The following certification statement by the NO (5) The signature of the NO (b) Unless otherwise required by the permitting authority or the Administrator, documents of agreement referred to in the account certificate of representation shall not be submitted to the permitting authority or the Administrator. Neither the permitting authority nor the Administrator shall be under any obligation to review or evaluate the sufficiency of such documents, if submitted.
official document · source cfr-2024
Account certificate of representation.
CFR · 2024-01-01 · US · Title 40
(a) A complete account certificate of representation for a NO (1) Identification of the NO (2) The name, address, e-mail address (if any), telephone number, and facsimile transmission number (if any) of the NO (3) A list of the owners and operators of the NO (4) The following certification statement by the NO (5) The signature of the NO (b) Unless otherwise required by the permitting authority or the Administrator, documents of agreement referred to in the account certificate of representation shall not be submitted to the permitting authority or the Administrator. Neither the permitting authority nor the Administrator shall be under any obligation to review or evaluate the sufficiency of such documents, if submitted.
official document · source cfr-2024
Account disclosures.
CFR · 2024-01-01 · US · Title 12
(a) (ii) (2) (ii) In providing disclosures upon request, the credit union may: (A) Specify rates as follows: ( ( (B) State the maturity of a term share account as either a term or a date. (b) (1) (B) For dividend-bearing accounts other than term share accounts, a credit union shall specify a dividend rate and annual percentage yield (using those terms) as of the last dividend declaration date. In the event that disclosures of a dividend rate and annual percentage yield as of the last dividend declaration date might be inaccurate because of known or contemplated dividend rate changes, the credit union may disclose the prospective dividend rate and prospective annual percentage yield. Such prospective dividend rate and prospective annual percentage yield may be disclosed either in lieu of, or in addition to, the dividend rate and annual percentage yield as of the last dividend declaration date. (ii) (A) The fact that the dividend rate and annual percentage yield may change; (B) How the dividend rate is determined; (C) The frequency with which the dividend rate may change; and (D) Any limitation on the amount the dividend rate may change. (2) (ii) (3) (A) Open the account; (B) Avoid the imposition of a fee; or (C) Obtain the annual percentage yield disclosed. (ii) (iii) (4) (5) (6) (i) (ii) (iii) (iv) (7) (8) (c) (2)
official document · source cfr-2024
Account disclosures.
CFR · 2024-01-01 · US · Title 12
(a) (ii) (2) (ii) In providing disclosures upon request, the institution may: (A) Specify an interest rate and annual percentage yield that were offered within the most recent seven calendar days; state that the rate and yield are accurate as of an identified date; and provide a telephone number consumers may call to obtain current rate information. (B) State the maturity of a time account as a term rather than a date. (b) (1) (ii) (A) The fact that the interest rate and annual percentage yield may change; (B) How the interest rate is determined; (C) The frequency with which the interest rate may change; and (D) Any limitation on the amount the interest rate may change. (2) (ii) (3) ( ( ( (B) Except for the balance to open the account, the disclosure shall state how the balance is determined for these purposes. (ii) (iii) (4) (5) (6) (i) (ii) (iii) (iv) (7) (c) (2)
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any Allowance Tracking System account. Within 10 business days of making such correction, the Administrator will notify the authorized account representative for the account.
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any NO
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any CAIR NO
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any CAIR SO
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any CAIR NO
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any NO
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any CAIR NO
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any CAIR SO
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any Allowance Management System account. Within 10 business days of making such correction, the Administrator will notify the authorized account representative for the account.
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any Allowance Management System account. Within 10 business days of making such correction, the Administrator will notify the authorized account representative for the account.
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any Allowance Management System account. Within 10 business days of making such correction, the Administrator will notify the authorized account representative for the account.
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any Allowance Management System account. Within 10 business days of making such correction, the Administrator will notify the authorized account representative for the account.
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any Allowance Management System account. Within 10 business days of making such correction, the Administrator will notify the authorized account representative for the account.
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any Allowance Management System account. Within 10 business days of making such
official document · source cfr-2024
Account error.
CFR · 2024-01-01 · US · Title 40
The Administrator may, at his or her sole discretion and on his or her own motion, correct any error in any Allowance Management System account. Within 10 business days of making such correction, the Administrator will notify the authorized account representative for the account.
official document · source cfr-2024
Account obligations for payment of items forwarded for collection by depository institution acting as agent.
CFR · 2024-01-01 · US · Title 12
Where a closed credit union has become obligated for the payment of items forwarded for collection by a depository institution acting solely as agent, the owner of such items will be recognized for all purposes of a claim for insured accounts to the same extent as if his name and interest were disclosed on the records of the credit union when such claim for insured accounts, if otherwise payable, has been established by the execution and delivery of prescribed forms. Such depository institution forwarding such items for the owners thereof will be recognized as agent for such owners for the purpose of making an assignment of the rights of such owners against the closed insured credit union to the Board and for the purpose of receiving payment on behalf of such owners.
official document · source cfr-2024
Account opening.
CFR · 2024-01-01 · US · Title 17
(a) (2) An intermediary must provide all information that is required to be provided by the intermediary under subpart C of this part (§§ 227.300 through 227.305), including, but not limited to, educational materials, notices and confirmations, through electronic means. Unless otherwise indicated in the relevant rule of subpart C of this part, in satisfying this requirement, an intermediary must provide the information through an electronic message that contains the information, through an electronic message that includes a specific link to the information as posted on intermediary's platform, or through an electronic message that provides notice of what the information is and that it is located on the intermediary's platform or on the issuer's Web site. Electronic messages include, but are not limited to, email, social media messages, instant messages or other electronic media messages. (b) (i) The process for the offer, purchase and issuance of securities through the intermediary and the risks associated with purchasing securities offered and sold in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)); (ii) The types of securities offered and sold in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) available for purchase on the intermediary's platform and the risks associated with each type of security, including the risk of having limited voting power as a result of dilution; (iii) The restrictions on the resale of a security offe
official document · source cfr-2024
Account requirements for Federal payments.
CFR · 2024-01-01 · US · Title 31
(a) Notwithstanding ACH Rules 2.1.2, 4.1.3, and Appendix Two, section 2.2 (listing general ledger and loan accounts as permissible transaction codes), an ACH credit entry representing a Federal payment other than a vendor payment shall be deposited into a deposit account at a financial institution. For all payments other than vendor payments, the account at the financial institution shall be in the name of the recipient, except as provided in paragraph (b) of this section. (b)(1) Where an authorized payment agent has been selected, the Federal payment shall be deposited into an account titled in accordance with the regulations governing the authorized payment agent. (2) Where a Federal payment is to be deposited into an investment account established through a securities broker or dealer registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or an investment account established through an investment company registered under the Investment Company Act of 1940 or its transfer agent, such payment may be deposited into an account designated by such broker or dealer, investment company, or transfer agent. (3) Where an agency is issuing part or all of an employee's travel reimbursement payment to the official travel card issuing bank, as authorized or required by Office of Management and Budget guidance or the Federal Travel Regulation, the ACH credit entry representing the payment may be deposited to the account of the travel card issuing
official document · source cfr-2024
Account review.
CFR · 2024-01-01 · US · Title 31
(a) (1) No later than two business days following receipt of (A) the order, and (B) sufficient information from the creditor that initiated the order to determine whether the debtor is an account holder, if such information is not already included in the order; or (2) In cases where the financial institution is served a batch of a large number of orders, by a later date that may be permitted by the creditor that initiated the orders, consistent with the terms of the orders. The financial institution shall maintain records on such batches and creditor permissions, consistent with § 212.11(b), (b) (c) (d) (1) The presence of other funds, from whatever source, that may be commingled in the account with funds from a benefit payment; (2) The existence of a co-owner on the account; (3) The existence of benefit payments to multiple beneficiaries, and/or under multiple programs, deposited in the account; (4) The balance in the account, provided the balance is above zero dollars on the date of account review; (5) Instructions to the contrary in the order; or (6) The nature of the debt or obligation underlying the order. (e) (f)
official document · source cfr-2024
Account servicing.
CFR · 2024-01-01 · US · Title 7
(a) (b) (1) Amortized audit receivables. ( (2) Unamortized audit receivables. ( (3) Late fees. ( (4) Amortized recoverable costs. ( (5) Unamortized recoverable costs. ( (6) Overage. ( (7) Interest. ( (8) Principal. ( (9) Advance payments. (Any funds remaining after disbursement of a payment to all other payment priorities will be applied to the borrower's account as an advance regular payment unless a borrower specifically designates, in writing, another application.) (c) (1) Late fees charged to a borrower's account will equal 6 percent of the total regular payments due as specified in any promissory notes, assumption agreements, or reamortization agreements related to the borrower's account. (2) Late fees are a borrower expense and must not be paid from housing project funds. (3) The Agency may waive late fees for circumstances beyond a borrower's control and when a waiver is determined by the Agency to be in the best financial interest of the Federal Government. (d)
official document · source cfr-2024
Account statements for penny stock customers.
CFR · 2024-01-01 · US · Title 17
(a) (b) (1) If the broker or dealer does not effect any transactions in penny stocks for or with the account of the customer during a period of six consecutive calendar months, then the broker or dealer shall not be required to provide monthly statements for each quarterly period that is immediately subsequent to such six-month period and in which the broker or dealer does not effect any transaction in penny stocks for or with the account of the customer, (2) If, on all but five or fewer trading days of any quarterly period, a security has a price of five dollars or more, the broker or dealer shall not be required to provide a monthly statement covering the security for subsequent quarterly periods, until the end of any such subsequent quarterly period on the last trading day of which the price of the security is less than five dollars. (c) (d) (1) The identity and number of shares or units of each such security held for the customer's account; and (2) The estimated market value of the security, to the extent that such estimated market value can be determined in accordance with the following provisions: (i) The highest inside bid quotation for the security on the last trading day of the period to which the statement relates, multiplied by the number of shares or units of the security held for the customer's account; or (ii) If paragraph (d)(2)(i) of this section is not applicable because of the absence of an inside bid quotation, and if the broker or dealer furnishing the sta
official document · source cfr-2024