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7825.1900 DEFINITIONS FOR REGULATION OF AFFILIATED INTERESTS.

Subpart 1.

Scope.

For the purpose of parts 7825.1900 to 7825.2300, the following definitions shall apply.

Subp. 2.

Affiliated interest.

"Affiliated interest" is as defined in Minnesota Statutes, section 216B.48, subdivision 1.

Subp. 3.

Agreement.

"Agreement" means a contract duly executed and legally binding on the public utility and the affiliated interest.

Subp. 4.

Contract, arrangement.

"Contract" or "arrangement" means a mutual obligation, written or unwritten, between a public utility and an affiliated interest.

Subp. 5.

Consideration.

"Consideration" means the value of the contract or agreement expressed in dollars.

Subp. 6.

Person.

"Person" means the beneficial owner of any voting securities or any person directly or indirectly in control of such voting securities. A person shall be considered to directly or indirectly in control of such voting securities including, but not limited to, voting securities owned or held by a relative or spouse or relative of the spouse residing in the home of such person; or voting securities owned or held by such person as a trustee, lessee, executor, or through any associate person controlling, controlled by, or under common control with such person in which such person owns five percent or more of the voting securities of a public utility.

Subp. 7.

Public utility.

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

Subp. 8.

Staff.

"Staff" means the staff of the Department of Commerce.

Subp. 9.

Voting security.

"Voting security" means any equity security or similar security with the power, presently exercisable, to vote for the election of directors; or any security presently convertible into such a security; or a warrant, option, or right, presently exercisable, to obtain such a security.

Statutory Authority:

MS s 216B.08; 216B.48

History:

L 2001 1Sp4 art 6 s 1

Published Electronically:

January 20, 2005

Official Publication of the State of Minnesota
Revisor of Statutes