ORS 757.485: Purchase of property or stocks of one utility by another.
Edition: 2025 EditionEffective: 2026-01-01Last verified: 2026-09-07
(1) No public utility shall, directly or indirectly, purchase, acquire or become the owner of any of the stocks or bonds or property utilized for utility purposes and having a value in excess of $10,000 of any other public utility unless authorized so to do by the Public Utility Commission. (2) Every contract by any public utility for the purchase, acquisition, assignment or transfer to it of any of the stock of any other public utility by or through any person, partnership or corporation without the approval of the commission shall be void and of no effect, and no such transfer or assignment of such stock upon the books of the corporation pursuant to any such contract is effective for any purpose. [Formerly 757.160]
This rule cites
No citations extracted.
Cited by
- ORS 757.061: Regulation of water utilities; rules.
- OAR 860-027-0025: Applications for Authority to Sell, Lease, Assign, Mortgage, Merge, Consolidate or Otherwise Dispose of or Encumber its Property, or to Acquire Stock, Bonds, or Property of Another Utility
- OAR 860-037-0515: Applications for Authority to Sell, Lease, Assign, Mortgage, Merge, Consolidate, or Otherwise Dispose of or Encumber its Property, or to Acquire Stock, Bonds, or Property of Another Public Utility
Official source: https://www.oregonlegislature.gov/bills_laws/ors/ors757.html