Maryland Code, PUBLIC UTILITIES 5-202
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, PUBLIC UTILITIES 5-202
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Without prior authorization of the Commission, a public service company may not:
(1) assign, lease, or transfer a franchise or a right under a franchise;
(2) enter into any agreement or contract that materially affects a franchise or a right under a franchise; or
(3) abandon or discontinue the exercise of a franchise or a right as a whole or in part.