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7825.1600 DEFINITIONS FOR APPROVAL TO ACQUIRE PROPERTY.

Subpart 1.

Scope.

For the purpose of parts 7825.1600 to 7825.1800, the following definitions shall apply.

Subp. 2.

Consolidation.

"Consolidation" means the combination of the assets and liabilities of a public utility with another public utility.

Subp. 3.

Consideration.

"Consideration" means anything of value given as an equivalent or a return for the property acquired.

Subp. 4.

Merger.

"Merger" means the acquisition of the assets or the assets and liabilities or the equity securities of a public utility by a public utility.

Subp. 5.

Party.

"Party" means all persons, partnerships, corporations, or other business entities or their representatives whose approval is necessary to consummate the transaction.

Subp. 6.

Public utility.

"Public utility" is as defined in Minnesota Statutes, section 216B.02, subdivision 4, but not including cooperative electric associations.

Subp. 7.

Transaction.

"Transaction" means the consummation of a transfer of property, of a merger, or of a consolidation.

Subp. 8.

Transfer of property.

"Transfer of property" means the sale or acquisition of an operating unit or system for a consideration valued at greater than $100,000; or if a rental or lease, for consideration greater than $100,000 over the life of the rental or lease.

Statutory Authority:

MS s 216B.08; 216B.50

Published Electronically:

January 20, 2005

Official Publication of the State of Minnesota
Revisor of Statutes