Section 15-1717. Provisions for the revision and readjustment of rent in licenses  


Latest version.
  • 1. The annual charge or rental fixed by the department shall  continue
      for  the  period  of  the  license,  unless  the  license provides for a
      readjustment of the charge or rental at a specified time  or  times,  in
      which case the charge or rental, as fixed by the license, may be revised
      and  readjusted by the department according to the terms of the license.
      Payments on account of any such charge or rental shall be treated  as  a
      part of the operating expense.
        2.  The licensee shall be given ten days' notice of the time and place
      of the meeting of the department at which the question of  the  revision
      and  readjustment  of  such  charge  or rental will be considered.   The
      revision and readjustment shall be in the form of a  resolution  adopted
      by  the  department and thereafter, the revised and readjusted rental or
      charge, unless reviewed and reversed or  modified  as  herein  provided,
      shall apply to and govern the license.
        3.  Any  such decision may be reviewed by the licensee pursuant to the
      provisions of section 15-0905.
        4. Pending the final determination  of  the  review  proceedings,  the
      licensee  shall  pay  to  the state the revised and readjusted rental or
      charge as fixed by the department; and if it shall  be  determined  that
      the rental or charge shall be revised, the licensee shall be credited on
      later  payments  with  any  excess he may pay over the rental as finally
      fixed, with interest. If the credits be  insufficient  to  satisfy  such
      excess, the licensee may recover the balance in the Court of Claims.