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2025 California Code
Public Utilities Code - PUC
DIVISION 4 - LAWS RELATING TO UTILITY CORPORATIONS AND THEIR EMPLOYEES
CHAPTER 2 - Street Railroads
Section 7803.
Universal Citation:
CA Pub Util Code § 7803 (2025)
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7803. Any street railroad or any street railway corporation may sell, lease, convey, exchange, transfer, or otherwise dispose of all or substantially all of its property and assets, including franchises, under authority of a resolution of its board of directors and with the approval of the principal terms of the transaction and the nature and the amount of the consideration by a vote or written consent of shareholders entitled to exercise a majority of the voting power of the corporation when the sale, lease, conveyance, exchange or transfer of its properties is made to a municipal corporation or any other political subdivision within the State.
(Enacted by Stats. 1951, Ch. 764.)
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