Subdivision 1. Fundamental corporate change defined. For purposes of this section, "fundamental corporate change" means the sale or transfer of a majority of a corporation's assets; merger, including a parent and its subsidiary corporation; consolidation; or creation of a subsidiary corporation.
Subd. 2. Written approval of franchising authority. A sale or transfer of a franchise, including a sale or transfer by means of a fundamental corporate change, requires the written approval of the franchising authority. The parties to the sale or transfer of a franchise shall make a written request to the franchising authority for its approval of the sale or transfer.
Subd. 3. [Repealed, 2004 c 261 art 7 s 29]
Subd. 4. Approval or denial of transfer request. The franchising authority shall approve or deny in writing the sale or transfer request. The approval must not be unreasonably withheld.
Subd. 5. [Repealed, 2004 c 261 art 7 s 29]
Subd. 6. Transfer of stock; controlling interest defined. Sale or transfer of stock in a corporation so as to create a new controlling interest in a cable communication system is subject to the requirements of this section.
The term "controlling interest" as used herein is not limited to majority stock ownership, but includes actual working control in whatever manner exercised.
1985 c 285 s 22; 2004 c 261 art 7 s 6,7
Structure Minnesota Statutes
Chapters 237 - 238 — Telecommunications
Chapter 238 — Cable Communications
Section 238.03 — Applicability.
Section 238.08 — Franchise Requirement.
Section 238.081 — Franchise Procedure.
Section 238.083 — Sale Or Transfer Of Franchise.
Section 238.084 — Required Contents Of Franchise Ordinance.
Section 238.086 — Franchise Holder Exemption.
Section 238.11 — Censorship Prohibited.
Section 238.115 — Cable Provider Complaints.
Section 238.15 — Financial Interest Of Member.
Section 238.16 — Gross Misdemeanor.
Section 238.17 — Service To Extension Area.
Section 238.18 — Unfair Preference.
Section 238.23 — Access Required.
Section 238.24 — Conditions For Access.
Section 238.241 — Conditions For Access By Alternative Provider.
Section 238.242 — Reimbursement.
Section 238.26 — Subsequent Taking.
Section 238.27 — Interference With Facilities.
Section 238.35 — Use Of Existing Easement; Restrictions.
Section 238.37 — Scope; Pole, Duct, And Conduit Agreements.
Section 238.38 — Permit To Attach To Pole Or Conduit System.
Section 238.39 — Legal Authority.
Section 238.40 — Liability; Indemnify Public Utility.