§906. Commission authorization not required
1. Property and service outside the State. Except as provided in subsection 2 for transmission and distribution utilities, notwithstanding any other provision of this chapter, a public utility is not required to apply to the commission for authority to issue stocks, bonds, notes or other evidences of indebtedness for the acquisition of property, for the purposes of carrying out its corporate powers, the construction, completion, extension or improvement of its facilities, or the improvement or maintenance of its service, outside the State.
[PL 1999, c. 398, Pt. A, §20 (AMD); PL 1999, c. 398, Pt. A, §§104, 105 (AFF).]
2. Exception: Transmission and distribution utilities. Notwithstanding subsection 1, this chapter applies to any domestic transmission and distribution utility acquiring and operating utility facilities outside the State for the purpose of serving customers within the State.
[PL 1999, c. 398, Pt. A, §20 (AMD); PL 1999, c. 398, Pt. A, §§104, 105 (AFF).]
3. Domestic electric utility.
[PL 1999, c. 398, Pt. A, §20 (RP); PL 1999, c. 398, Pt. A, §§104, 105 (AFF).]
SECTION HISTORY
PL 1987, c. 141, §A6 (NEW). PL 1997, c. 710, §4 (AMD). PL 1999, c. 398, §A20 (AMD). PL 1999, c. 398, §§A104,105 (AFF).
Structure Maine Revised Statutes
Part 1: PUBLIC UTILITIES COMMISSION
Chapter 9: APPROVAL OF STOCKS, BONDS AND NOTES BY PUBLIC UTILITIES COMMISSION
35-A §901. Issuance of stocks, bonds and notes
35-A §902. Commission authorization required
35-A §903. Stocks sold at less than par value
35-A §904. Approval of stocks authorized, but not issued
35-A §905. Validity of securities issued pursuant to order of commission
35-A §906. Commission authorization not required
35-A §907. Municipal or quasi-municipal corporations
35-A §908. Additional requirements as to issuance
35-A §909. Stock for organization purposes
35-A §910. Consent required for change of capital or purposes