35-A §1102. Property not necessary or useful to a utility's duties
Title 35-A: PUBLIC UTILITIES HEADING: PL 1987, C. 141, PT. A, §6 (NEW)
Part 1: PUBLIC UTILITIES COMMISSION HEADING: PL 1989, C. 502, PT. A, §123 (RP)
Chapter 11: AUTHORIZATION OF SALES, LEASES, AND MORTGAGES OF PROPERTY HEADING: PL 1987, C. 141, PT. A, §6 (NEW)
§1102. Property not necessary or useful to a utility's duties
Nothing in section 1101 prevents the sale, lease or other disposition by a public utility of property, which is not necessary or useful in the performance of its duties to the public. As to any purchaser of the property in good faith for value, the sale of property by a public utility shall be conclusively presumed to have been of property which is not necessary or useful in the performance of its duties to the public. [1987, c. 141, Pt. A, §6 (NEW).]
SECTION HISTORY
1987, c. 141, §A6 (NEW).