Indiana Code 8-1-2.7-10. Confirmation of withdrawal
(1) The total membership or number of shareholders of the utility.
Terms Used In Indiana Code 8-1-2.7-10
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- commission: refers to the Indiana utility regulatory commission. See Indiana Code 8-1-1-1
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(3) The vote totals both for and against withdrawal.
(4) Written verification of notice of the meeting.
(5) An affidavit, signed by all of the members of the board of directors, stating that all of the requirements of this chapter have been met.
(b) If a utility successfully withdraws from commission jurisdiction, the utility is not required to pay the public utility fee imposed under IC 8-1-6.
(c) Notwithstanding any other provision of this chapter, a utility described in section 1.3(a)(2) of this chapter that has withdrawn from commission jurisdiction remains subject to commission jurisdiction with regard to the requirements of IC 8-1-2-89(f).
(d) Whenever two (2) or more utilities described in section 1.3(a)(1) or 1.3(a)(2) of this chapter propose to consolidate, and at least one (1), but not all of the utilities have withdrawn from commission jurisdiction, then the following apply:
(1) For purposes of the consolidation, all of the utilities are under the commission’s jurisdiction.
(2) The new corporation that is formed as a result of the consolidation is under the commission’s jurisdiction for all purposes and must fully comply with this chapter in order to withdraw from commission jurisdiction.
(e) If two (2) or more utilities described in section 1.3(a)(1)(C) or 1.3(a)(2)(C) of this chapter propose to consolidate, and all of the cooperatives have withdrawn from commission jurisdiction, the new utility continues to operate outside the commission’s jurisdiction under the terms of this section.
(f) The commission’s approval is not required for consolidation of two (2) or more utilities that have all withdrawn from commission jurisdiction.
As added by P.L.108-1989, SEC.1. Amended by P.L.80-1997, SEC.13; P.L.82-1997, SEC.13; P.L.159-1999, SEC.12.