2005 Vermont Code - § 109. — Sales and leases; hearings

§ 109. Sales and leases; hearings

Except in connection with replacement or exchange, a corporation or a foreign corporation subject to the jurisdiction of the public service board, shall not make a sale or lease or series of sales or leases in any one calendar year constituting ten percent or more of the company's property located within this state and actually used in or required for public service operations nor merge nor consolidate pursuant to the provisions of sections 301-307 of this title, nor after any such sale, lease, consolidation or merger shall any subsequent like action be taken, except after opportunity for hearing by the public service board and a finding by such board that the same will promote the general good of the state. Such notice of the hearing shall be given as the board directs. A certificate of consent of the public service board shall be filed with the secretary of state. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1993, No. 21, § 8, eff. May 12, 1993.)