§ 49-04-06 — Acquiring stock or membership interest or business of another utility - Authorization by commission

Authorization by commission.
No public utility, directly or indirectly, shall acquire the stock, membership interest, or
business of any other corporation or limited liability company incorporated for or organized for or
engaged in the same or a similar business or proposing to operate or operating under a
franchise from the same or any other authority unless authorized to do so by the commission.
No such transaction shall be binding upon the public without the approval of the commission.