§ 108. Approval of dissolution and of certificates of merger or consolidation, certificates of amendment of certificates of incorporation, and restated certificates of incorporation of public utility corporations. 1. No public utility corporation shall deliver to the department of state for filing, nor shall the department of state file, a certificate of dissolution, a certificate of merger or consolidation, or a certificate of amendment of a certificate of incorporation under § 805 of the business corporation law or a restated certificate of incorporation under § 807 of the business corporation law which makes any amendment specified in subparagraphs eight, nine, ten, eleven and twelve of paragraph (b) of § 801 of the business corporation law, unless such certificate shall have endorsed thereon the consent and approval of the commission.

Terms Used In N.Y. Public Service Law 108

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.

2. No public utility corporation shall be dissolved pursuant to the provisions of Article 11 of the business corporation law until the commission shall have first approved such dissolution.

3. The provisions of this section shall not apply to a public utility corporation subject to regulation by the commission only as a contract carrier of passengers by motor vehicle, nor to a certificate of amendment or restated certificate of incorporation of a public utility corporation subject to regulation by the commission only as a motor carrier of property.

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