CHAPTER 24. GAS PIPELINE SECURITIES
IC 8-1-24
Chapter 24. Gas Pipeline Securities
IC 8-1-24-1
Approval of commission not required for certain transactions
Sec. 1. Notwithstanding any other statute or rule of law of the
state, any corporation or other business entity engaged in the
transmission of gas by pipeline, which is subject to the supervision,
control, or jurisdiction of the federal government or any agency,
board or commission thereof with respect to construction of
additional facilities, shall not be required to obtain the leave,
approval, or consent of the commission for the issuance of any of its
stocks, certificates of stock, bonds, notes, or other evidences of
indebtedness nor shall any such corporation or other business entity
be required to obtain the approval of the commission in order to sell,
assign, transfer, lease, or encumber its franchise, works, or system to
any other person, partnership, limited liability company, or
corporation.
(Formerly: Acts 1973, P.L.64, SEC.1.) As amended by P.L.23-1988,
SEC.59; P.L.8-1993, SEC.130.
IC 8-1-24-2
Exemption from IC 8-1-1 and IC 8-1-2
Sec. 2. Any corporation or other business entity engaged in the
transmission of gas by pipeline, and which is subject to the
supervision, control, or jurisdiction of the federal government, or any
agency, board, or commission thereof with respect to construction of
additional facilities, shall be exempt from and after July 26, 1973,
from all provisions of IC 8-1-1 and IC 8-1-2 with respect to the
issuance of its stocks, certificates of stock, bonds, notes, or other
evidences of indebtedness and with respect to the sale, assignment,
transfer, lease, or encumbrance of its franchise, works, or system.
(Formerly: Acts 1973, P.L.64, SEC.1.) As amended by P.L.59-1984,
SEC.92; P.L.23-1988, SEC.60.