Section 460.844 - Sale or exchange of excess capacity or output.
MICHIGAN ENERGY EMPLOYMENT ACT OF 1976 (EXCERPT)
Act 448 of 1976
460.844 Sale or exchange of excess capacity or output.
Sec. 44.
(1) A joint agency may sell or exchange the excess capacity or output of a project not required by any of its members for consideration upon terms and conditions as determined by the parties.
(2) A joint agency may do 1 or more of the following:
(a) Transfer all or part of its interest in or functional control of transmission facilities to a multistate regional transmission system organization approved by the federal government and operating in this state or to 1 or more of its transmission-owning members.
(b) Purchase, acquire, sell, or otherwise transfer stock, membership units, or any other interest in a multistate regional transmission system organization approved by the federal government and operating in this state or in 1 or more of its transmission-owning members.
History: 1976, Act 448, Imd. Eff. Jan. 13, 1977 ;-- Am. 2002, Act 532, Imd. Eff. July 25, 2002 ;-- Am. 2008, Act 21, Imd. Eff. Mar. 7, 2008