§ 99A — Property held as tenants in common by electric companies

Massachusetts § 99A

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XXII: CORPORATIONS
• Ch. 164: MANUFACTURE AND SALE OF GAS AND ELECTRICITY

Text

Section 99A. Notwithstanding any contrary provision of law, if an electric company acquires or owns an interest as a tenant in common with one or more domestic or foreign corporations, associations or persons, in any property in this commonwealth used or useful for electric utility company purposes, the surrender or waiver by any owner of such property, by agreement or otherwise, of its rights to partition such property for a period not exceeding the period for which such property is used or useful for electric utility company purposes, shall not be invalid or unenforceable by reason of the length of such period, or as unduly restricting the alienation of such property. Such property shall include, but is not limited to, water storage reservoirs, transmission lines, plants for generating electricity, office buildings and equipment, and transportation equipment.