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SF 1009 Senate Long Description

"Minnesota Public Utilities Holding Company Act"; prohibiting persons from forming a public utility holding company without public utilities commission (PUC) approval, specifying required information for a certificate of approval application, providing for PUC hearing, decision, modifications; regulating public utility holding company takeovers and capital impairment; providing regulatory limitation for public utility holding companies and nonutility affiliates, prohibiting lending, obligation guarantee, subsidization and operations impairment, regulating confidential information and real property transfers, dissolution requirements and property transactions; requiring separate organizations and assets recording; providing loan and investment restrictions for officers, prescribing penalties; specifying reporting and asset requirements; authorizing PUC investigations, private cause of action and PUC, attorney general and department of commerce intervention authority
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