Terms Used In Iowa Code 478.10

  • 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.
  • Person: means an individual, partnership, firm, corporation, or association. See Iowa Code 462A.2
 When any electric transmission line or lines are sold and transferred either by voluntary or judicial sale, the transfer shall carry with it the franchise under which the improvement is owned, maintained, or operated. If a transfer of such franchise is made before the improvement for which it was issued is constructed, in whole or in part, the transfer shall not be effective until the person, company, or corporation to whom it was issued files in the office of the utilities board granting the franchise a notice in writing stating the date of the transfer and the name and address of the transferee.
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