216B.48 RELATIONS WITH AFFILIATED INTEREST. Subdivision 1. Definition of affiliated interests. “Affiliated interests” with a public utility means the following: (1) every corporation and person owning or holding directly or indirectly five percent or more of the voting securities of such public utility; (2) every corporation and person in any chain of successive ownership of […]
216B.49 SECURITIES; PUBLIC FINANCING. Subdivision 1. Definition of security. For the purpose of this section, “security” means any note; stock; treasury stock; bond; debenture; evidence of indebtedness; assumption of any obligation or liability as a guarantor, endorser, surety, or otherwise in the security of another person; certificate of interest or participation in any profit-sharing agreement; […]
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 or transmission company operating in this state, […]
216B.51 STOCK PURCHASE. Subdivision 1. Stock of another utility. No public utility shall purchase voting stock in another public utility doing business in Minnesota without first having made application to and received the consent of the commission in writing or by order. Subd. 2. [Repealed, 1978 c 795 s 10] Subd. 3. Exempt from other […]
