Section 23-4-709 - Ratemaking procedure(a) It shall be the duty of the Arkansas Department of Transportation to: (1) Examine and revise the rate sheet and tariff charges for freight or express matter for each railroad in this state;(2) Determine whether or not, and in what manner, if any, the charges and rates are more than just and reasonable compensation for the services rendered; and(3) Determine whether or not and in what manner, if any, such charges and rates are in violation of any of the provisions of this act.(b) The department: (1) Will make reasonable and just rates of freight, express, and passenger tariffs to be observed by all persons and corporations operating any railroad or engaged in transporting persons or property as express or freight in this state;(2) Shall make rules as to charges at any and all points for the necessary hauling and delivering of express and freight; and(3) Will regulate rates and charges for such services on all railroads as, in their judgment, justice to the public and the person or corporation requires and by rule make the rates and charges conform to the requirements of this act.(c) The department, in making such rules and regulations, shall first give the person or corporation to be affected notice to appear and show cause, if it can, why no change should be made in the rates then in force and shall take into consideration the character and nature of the service to be performed, the entire earnings of any railroad or express company, the expense of operating the railroad or express company, and the income and value thereof.(d) When any tariff of charges is corrected and approved, the department shall append a certificate of its approval to the tariff of charges and give notice thereof to any officer or agent of the railroad or express company to be affected thereby. The tariff of charges shall be kept posted for at least five (5) days before the tariff and charges shall go into effect.(e) The department shall not alter or change any tariff of charges so approved by it except upon ten (10) days' notice in writing to the person or corporation operating the express company or railroad to be affected by the change, giving the person or corporation an opportunity to be heard. The notice is to be given by delivering a copy thereof to any officer or agent of the person or corporation.Amended by Act 2019, No. 315,§ 2396, eff. 7/24/2019.Amended by Act 2017, No. 707,§ 137, eff. 8/1/2017.Acts 1899, No. 53, § 9, p. 82; C. & M. Dig., § 1627; Pope's Dig., § 1949; A.S.A. 1947, § 73-1513.