§219 — Title 47 Telegraphs, Telephones, and Radiotelegraphs | U.S. Code

Summary

Requires carriers and related companies (those that control, are controlled by, or are under common control with a carrier) to file a yearly report with the Commission. The report must give full financial and business details. That includes stock and dividend data, names of the 30 largest holders and how much they own, long‑term and short‑term debts and interest, cost and value of property and equipment, number of employees and pay by group, officers and directors and their pay, yearly improvements and how money was spent, earnings by each type of business, expenses, profit and loss, and a yearly balance sheet. The report must also include answers to any specific questions the Commission asks and information about charges or contracts the Commission requires. The Commission sets the 12‑month reporting period. Reports must be filed in Washington within three months after the year ends, unless more time is allowed. If a person fails to file or to answer a required question within 30 days, they must pay $1,200 for each day they are late. The Commission can also order monthly, periodic, or special reports about earnings, expenses, or other matters; the same late penalty applies to those reports.

Title 47, §219

Telegraphs, Telephones, and Radiotelegraphs — Source: USLM XML via OLRC

(a)The Commission is authorized to require annual reports from all carriers subject to this chapter, and from persons directly or indirectly controlling or controlled by, or under direct or indirect common control with, any such carrier, to prescribe the manner in which such reports shall be made, and to require from such persons specific answers to all questions upon which the Commission may need information. Except as otherwise required by the Commission, such annual reports shall show in detail the amount of capital stock issued, the amount and privileges of each class of stock, the amounts paid therefor, and the manner of payment for the same; the dividends paid and the surplus fund, if any; the number of stockholders (and the names of the thirty largest holders of each class of stock and the amount held by each); the funded and floating debts and the interest paid thereon; the cost and value of the carrier’s property, franchises, and equipment; the number of employees and the salaries paid each class; the names of all officers and directors, and the amount of salary, bonus, and all other compensation paid to each; the amounts expended for improvements each year, how expended, and the character of such improvements; the earnings and receipts from each branch of business and from all sources; the operating and other expenses; the balances of profit and loss; and a complete exhibit of the financial operations of the carrier each year, including an annual balance sheet. Such reports shall also contain such information in relation to charges or regulations concerning charges, or agreements, arrangements, or contracts affecting the same, as the Commission may require.

(b)Such reports shall be for such twelve months’ period as the Commission shall designate and shall be filed with the Commission at its office in Washington within three months after the close of the year for which the report is made, unless additional time is granted in any case by the Commission; and if any person subject to the provisions of this section shall fail to make and file said annual reports within the time above specified, or within the time extended by the Commission, for making and filing the same, or shall fail to make specific answer to any question authorized by the provisions of this section within thirty days from the time it is lawfully required so to do, such person shall forfeit to the United States the sum of $1,200 for each and every day it shall continue to be in default with respect thereto. The Commission may by general or special orders require any such carriers to file monthly reports of earnings and expenses and to file periodical and/or special reports concerning any matters with respect to which the Commission is authorized or required by law to act. If any such carrier shall fail to make and file any such periodical or special report within the time fixed by the Commission, it shall be subject to the forfeitures above provided.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsec. (a), was in the original “this Act”, meaning act June 19, 1934, ch. 652, 48 Stat. 1064, known as the Communications Act of 1934, which is classified principally to this chapter. For complete classification of this Act to the Code, see section 609 of this title and Tables.

Amendments

1989—Subsec. (b). Pub. L. 101–239 substituted “$1,200” for “$100”. 1962—Subsec. (a). Pub. L. 87–444, § 1, struck out “under oath” after “require annual report”. Subsec. (b). Pub. L. 87–444, § 2, struck out provisions that the periodical or special reports be under oath whenever the Commission so required. 1956—Subsec. (a). Act Aug. 2, 1956, substituted “Except as otherwise required by the Commission, such” for “Such” at beginning of second sentence.

§219 Reports by carriers; contents and requirements generally