SF 43
Introduction - 86th Legislature (2009 - 2010)
Posted on 02/09/2010 02:10 a.m.
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A bill for an act
relating to utilities; prohibiting public utility from acquiring nonutility company;
proposing coding for new law in Minnesota Statutes, chapter 216B.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
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[216B.481] ACQUIRING NONUTILITY BUSINESS PROHIBITED.
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A public utility, or a holding company of which the public utility is a member
company, may not acquire an interest in a company that is not a public utility or that does
not receive 50 percent or more of its revenue from electric or gas utility-related business.
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Sec. 2. new text begin EFFECTIVE DATE.
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Section 1 applies to acquisitions made on or after August 1, 2009.
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