2006 Ohio Revised Code - 4905.49. Merger.
With the consent and approval of the public utilities commission, any two or more telephone companies, doing business in this state, or partly within and partly without this state, may consolidate when such telephone companies have complied with the orders and requirements of the commission and the provisions of the applicable sections of Chapters 4901., 4903., 4905., 4907., 4909., 4921., 4923., and 4925. of the Revised Code.
Such telephone companies shall file with the commission a joint petition for such consolidation, signed and verified by the president and the secretary of each such company, in which all of the terms, conditions, and proceedings pertaining to such consolidation shall be set forth in detail and in such form as the commission requires. Upon such filing the commission shall fix a time and place for the hearing of such petition.
If, after such hearing, the commission is satisfied that such consolidation will promote public convenience, and will furnish the public adequate service for a reasonable rate, rental, toll, or charge, it shall make an order authorizing such consolidation, which order shall not take effect until it is filed with the secretary of state. Other proceedings relating to such consolidation shall be in the manner and with the effect provided for in the consolidation of railroad companies under the laws of this state.
No consolidation, purchase, lease, or contract by which two or more telephone companies merge or operate their lines or plants jointly or in connection with each other, shall become valid or effective until after the commission has ascertained and determined the valuation, as provided in such chapters upon which the rates, tolls, charges, and rentals are based and has fixed and determined such rates, tolls, charges, and rentals to be so charged. Such valuations shall be at all times open to public inspection.
HISTORY: GC § 614-61; 102 v 549(568), § 64; Bureau of Code Revision. Eff 10-1-53.
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