Sec. 10.3. (a) This section applies only to the transfer of property to a public utility under section 10.5 of this chapter.

     (b) If property transferred under this section requires an appraisal, the commissioner may do one (1) of the following:

(1) Require the public utility to pay for the appraisal.

(2) Accept the public utility’s appraisal.

     (c) An appraisal under this section must be performed by an appraiser who has the qualifications required by the commissioner.

     (d) The public utility shall pay for the cost of the appraisal and for any other costs involved in the transfer.

As added by P.L.33-1995, SEC.11.