Haw. Code R. § 16-601-105 - Contents

(a) An application filed by any public utility, water carrier, motor carrier, or by other person subject to commission jurisdiction to sell, lease, assign, mortgage, or otherwise dispose of or encumber the whole or any part of its property that is necessary or useful in the performance of its duties to the public or any franchise, permit, or any operating right, or to merge or consolidate with any other public utility, water carrier, motor carrier, or other person subject to commission jurisdiction, with or without acquisition of the capital stock of the other public utility, water carrier, motor carrier, or other person, shall comply with sections 16-601-15 to 16-601-24 and section 16-601-74 and be signed by all parties under commission jurisdiction.

(b) The application shall contain the following data, either in the body of the application or in exhibits attached to the application:

(1) A description of the character of business performed and the territory served by each applicant;

(2) A description of the property involved in the transaction, including any franchises, certificates, permits, or operative rights; and, if the transaction is a sale, lease, assignment, merger, or consolidation, a statement of the book cost and the original cost, if known, of the property involved;

(3) Detailed reasons upon the part of each applicant for entering into the proposed transaction and the facts justifying it; and

(4) The agreed purchase price and the terms of payment. If merger or consolidation, the full terms and conditions thereof and compliance with any takeover law requirements.

(c) The application shall be accompanied by the following documents:

(1) In the case of a merger or consolidation, a financial statement under section 16-601-75; in the case of other transfers, the latest available balance sheet and income profit and loss statement; and

(2) A copy of the proposed deed of sale, lease, mortgage, or other encumbrance and of the contract or agreement for the sale, lease, mortgage, or other encumbrance, if any, and a copy of each plan or agreement for purchase, merger, or consolidation.

Notes

Haw. Code R. § 16-601-105

[Eff 1/1/2019] (Auth: HRS §§ 91-2, 269-6, 271-9, 271G-7) (Imp: HRS §§ 91-2, 269-18, 269-19, 271-18, 271G-14)