Vermont § 515 Acquisition of control of a company subject to the jurisdiction of the Public Utility Commission

Vermont Statutes

§ 515 — Acquisition of control of a company subject to the jurisdiction of the Public Utility Commission

Vermont § 515

Title 30Title 30: Public Service

Ch. 13Chapter 013: Cable Television Systems

This text of Vermont § 515 (Acquisition of control of a company subject to the jurisdiction of the Public Utility Commission) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 30, § 515 (2026).

Text

(a)No person, corporation, partnership, or unincorporated association shall acquire ownership of greater than 40 percent of the voting securities in a company as defined in subdivision 501(3) of this title subject to the supervision of the Public Utility Commission without the approval of the Commission after due notice and opportunity for hearing and a finding on its part that such acquisition will not be contrary to the public good.

(b)For the purposes of this section, voting security means any stock or security presently entitling the owner or holder to vote in the direction or management of the affairs of a company or any security issued under or pursuant to any trust, agreement, or arrangement where a trustee or trustees or agent or agents for the owner or holder of such a security

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(a) No person, corporation, partnership, or unincorporated association shall acquire ownership of greater than 40 percent of the voting securities in a company as defined in subdivision 501(3) of this title subject to the supervision of the Public Utility Commission without the approval of the Commission after due notice and opportunity for hearing and a finding on its part that such acquisition will not be contrary to the public good.
(b) For the purposes of this section, voting security means any stock or security presently entitling the owner or holder to vote in the direction or management of the affairs of a company or any security issued under or pursuant to any trust, agreement, or arrangement where a trustee or trustees or agent or agents for the owner or holder of such a security are presently entitled to vote in the direction or management of the affairs of a company.
(c) A specified per centum of the outstanding voting securities of such company means such amount of outstanding voting securities of such company as entitles the holder or holders thereof to cast said specified per centum of the aggregate votes that the holders of all the outstanding voting securities of such company are entitled to cast in the direction or management of the affairs of such company. (Added 1987, No. 271 (Adj. Sess.), § 15, eff. June 21, 1988; amended 1999, No. 157 (Adj. Sess.), § 13; 2023, No. 85 (Adj. Sess.), § 388, eff. July 1, 2024.)