California Public Utilities Code 120522 – Whenever the board acquires ownership of existing facilities from a …
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Whenever the board acquires ownership of existing facilities from a privately or publicly owned corporation or public utility, either in proceedings in eminent domain or otherwise and maintains the corporation or utility, by whatever name, as a separate, legal corporate entity, the board of directors of the corporation or utility shall continue its responsibilities with regard to its employees’ wages, hours, and other terms and conditions of employment, existing labor contracts, and existing pension plans.
(Amended by Stats. 1985, Ch. 1576, Sec. 21.)
Terms Used In California Public Utilities Code 120522
- board: means a county transit development board created pursuant to Chapter 2 (commencing with Section 120050). See California Public Utilities Code 120001
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.