16 Tex. Admin. Code § 26.75 - Reports on Sale of 50% or More of Stock
(a)
All transactions involving the sale of 50% or more of the stock of a dominant
carrier except a local exchange company exempted in subsection (b) of this
section, shall be reported to the commission while pending or within 30 days
after closing.
(b) Incumbent local
exchange companies electing under the Public Utility Regulatory Act, Chapter
58, are exempt from the requirements of this subsection.
(c) For dominant carriers, investigations by
the commission, with or without public hearing, of the transactions described
in 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
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