2001 Minnesota Statutes

     216B.50 Restrictions on property transfer and merger. 

    Subdivision 1.    Commission approval required.  No 
 public utility shall sell, acquire, lease, or rent any plant as 
 an operating unit or system in this state for a total 
 consideration in excess of $100,000, or merge or consolidate 
 with another public utility operating in this state, without 
 first being authorized so to do by the commission.  Upon the 
 filing of an application for the approval and consent of the 
 commission thereto the commission shall investigate, with or 
 without public hearing, and in case of a public hearing, upon 
 such notice as the commission may require, and if it shall find 
 that the proposed action is consistent with the public interest 
 it shall give its consent and approval by order in writing.  In 
 reaching its determination the commission shall take into 
 consideration the reasonable value of the property, plant, or 
 securities to be acquired or disposed of, or merged and 
 consolidated.  The provisions of this section shall not be 
 construed as applicable to the purchase of units of property for 
 replacement or to the addition to the plant of the public 
 utility by construction. 

    Subd. 2.  Repealed, 1978 c 795 s 10 

    Subd. 3.    Exempt from other law.  Mergers and 
 consolidations as enumerated in subdivision 1 hereof shall be 
 exempt from the provisions of chapter 80B. 

    HIST: 1974 c 429 s 50