66-127. Dealing in securities of competing utility; prohibited transportation; exemption for certain utilities.
66-127
66-127. Dealing in securities of competing utility;prohibitedtransportation; exemption for certain utilities.No common carrier or public utility governed by theprovisions of this act, domestic or foreign, shall hereafterpurchase or acquire, take or hold any part of the capital stock,bonds or other forms of indebtedness of any competing publicutility or common carrier, either as owner or pledgee, unlessauthorized by the commission. Any common carrier engaged inintrastate commerce in this state is prohibited in thetransportation of such commerce, articles or commodities underthe following circumstances and conditions:
(a) When the article or commodity has been manufactured,mined or produced by a carrier or under its authority and at thetime of the transportation the carrier has not in good faith,before the act of transportation, disassociated itself from sucharticle or commodity;
(b) when the carrier owns the article or commodity to betransported, in whole or part;
(c) when the common carrier at the time of transportationhas a legal or equitable interest, directly or indirectly, in thearticle or commodity, except materials and supplies for its ownuse.
Every public utility is prohibited from engaging in anybusiness in this state which is not in conformity with itscharter or in which it is not permitted to engage under the lawsof the state of Kansas, except that this sectionshall not apply to ownership by railroads of the stock, bonds, or otherforms of indebtedness of union depot or terminal railroadproperties used in common by two or more such railroads. Theprovisions of this section shall not apply to resellers oftelecommunications services, local exchange carriers that have elected pricecap regulation pursuant to subsection (b) of K.S.A. 66-2005, andamendments thereto,unless a transaction subject to this section is solely between such carrierand a local exchange carrier that has elected rate of return regulationpursuant to subsection (b) of K.S.A. 66-2005, and amendments thereto, operatingwholly within this state,or interexchange carriers.
History: L. 1911, ch. 238, § 27; R.S. 1923, 66-127;L. 1996, ch. 268, § 19;L. 2008, ch. 146, § 1; July 1.