§ 23-3-301 — Legislative determination

(a) The methods and manner in which utility services are provided by domestic public utilities to the citizens, businesses, institutions, and other utility customers in Arkansas are directly related to the continued health, safety, and welfare of the citizens of Arkansas. Homes, schools, churches, places of business, and other facilities necessarily used and occupied by the citizens of Arkansas depend upon and must receive safe, reliable, and justly priced utility services. (b) The merger or acquisition or attempted acquisition of control of a domestic public utility may, if not regulated by the State of Arkansas: (1) Diminish the ability or determination of the domestic public utility to meet its contractual obligations or render the same level of service that the domestic public utility is currently rendering; (2) Substantially lessen competition in the furnishing of utility service; (3) Jeopardize the financial stability of the domestic public utility; (4) Be detrimental to the customers of the domestic public utility and not be in the public interest; or (5) Lead to the control or operation of the domestic public utility by persons of such competence, experience, or integrity that would not be in the interest of the domestic public utility's customers or the public.

Legislative History

Acts 1985, No. 343, § 13; A.S.A. 1947, § 73-142.