§ 8-1-2-92 — Indeterminate licenses, permits, or franchises; purchase or condemnation by municipality

(a) Every license, permit, or franchise granted
after April 30, 1913, to any public utility shall have the effect of an
indeterminate permit subject to the provisions of this chapter, and
subject to the provisions that:
(1) the license, franchise, or permit may be revoked by the
commission for cause; or
(2) except as provided in IC 8-1-30-6, the municipality may
purchase or condemn the property as provided in IC 8-1.5-2, IC 36-9-23, or IC 36-9-25, as applicable.
A municipality that is authorized to purchase property and a public
utility that is required to sell the property under subdivision (2) shall do
so at the value and according to the terms and conditions as provided
in IC 8-1.5-2, IC 36-9-23, or IC 36-9-25, as applicable.
(b) If this chapter should be repealed or annulled, then all such
indeterminate franchises, permits, or grants shall cease and become
inoperative, and in place thereof such utility shall be reinstated in the
possession and enjoyment of the license, permit, or franchise
surrendered by such utility at the time of the issue of the indeterminate
franchise, permit, or grant; but in no event shall such reinstated license,
permit, or franchise be terminated within a less period than five (5)
years from the date of the repeal or annulment of this chapter.
Formerly: Acts 1913, c.76, s.100; Acts 1933, c.190, s.11. As
amended by P.L.59-1984, SEC.40; P.L.172-2009, SEC.1;
P.L.270-2013, SEC.1.