16 Tex. Admin. Code § 26.74 - Reports on Sale of Property and Mergers
(a)
Except for a local exchange company exempted in subsection (e) of this section
a dominant carrier shall not sell, acquire, lease or rent any plant as an
operating unit or system in the State of Texas for a total consideration in
excess of $10 million unless the public utility reports such transaction to the
commission while pending or within 30 days after closing.
(b) Except for a local exchange company
exempted in subsection (e) of this section a dominant carrier shall not merge
or consolidate with another public utility or electric utility operating in the
State of Texas unless the public utility reports such transaction to the
commission while pending or within 30 days after closing.
(c) Dominant carriers shall not purchase
voting stock in another public utility or electric utility doing business in
the State of Texas, unless the utility reports such purchase to the commission
while pending or within 30 days after closing.
(d) Dominant carriers shall not loan money,
stocks, bonds, notes or other evidences of indebtedness to any corporation or
person owning or holding directly or indirectly any stock of the public utility
unless the public utility reports such transaction to the commission while
pending or within 30 days after closing.
(e) Incumbent local exchange companies
electing under the Public Utility Regulatory Act, Chapter 58, are exempt from
the requirements of subsections (a) and (b) of this section.
(f) For dominant carriers, investigations by
the commission, with or without public hearing, of the transactions described
in subsection (a) and (b) of this section must be completed within 180 days
after the date of notification by the dominant carrier. If an order is not
entered within that time, the utility's action is considered consistent with
the public interest.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.