§ 35-A §1101 — Authorization required

1.
Utilities to secure authorization from the commission.
A public utility must secure an order of authorization from the commission before it may:
2.
Failure to secure commission authorization.
Every sale, lease, assignment, mortgage, disposition, encumbrance, merger or consolidation made other than in accordance with the order of the commission authorizing it is void.
3.
Utilities exclusively outside the State.
Nothing in this section applies to property, franchises, permits or rights of a utility owned and operated exclusively outside the State, unless the property, franchise, permits or rights are owned, operated or under construction with respect to the performance of the utility's duties to the public inside this State.
4.
Exempt transactions.
Transactions involving utility property that do not materially affect the ability of a utility to perform its duties to the public do not require commission authorization under this section. The commission may certify transactions as not requiring authorization, either by rule or order.

Legislative History

PL 1987, c. 141, §A6 (NEW). PL 1987, c. 490, §§B1,B2 (AMD). PL 1995, c. 357, §1 (AMD).