North Dakota Code 49-04-06 – Acquiring stock or membership interest or business of another utility – Authorization by commission
Current as of: 2023 | Check for updates
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No public utility, directly or indirectly, shall acquire the stock, membership interest, or business of any other corporation or limited liability company incorporated for or organized for or engaged in the same or a similar business or proposing to operate or operating under a franchise from the same or any other authority unless authorized to do so by the commission.
Terms Used In North Dakota Code 49-04-06
- 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.
No such transaction shall be binding upon the public without the approval of the commission.