§ 39-3-25 - Proceedings for approval of transactions between utilities.
SECTION 39-3-25
§ 39-3-25 Proceedings for approval oftransactions between utilities. – The proceedings for obtaining the consent and approval of the division for suchauthority shall be as follows: There shall be filed with the division apetition, joint or otherwise, as the case may be, signed and verified by thepresident and secretary of the respective companies, clearly setting forth theobject and purposes desired, stating whether or not it is for the purchase,sale, lease, or making of contracts or for any other purpose in § 39-3-24provided, and also the terms and conditions of the same. The division shallupon the filing of the petition, if it deem a hearing necessary, fix a time andplace for the hearing thereof. If, after the hearing, or, in case no hearing isrequired, the division is satisfied that the prayer of the petition should begranted, that the facilities for furnishing service to the public will notthereby be diminished, and that the purchase, sale, or lease and the termsthereof are consistent with the public interest, it shall make such order inthe premises as it may deem proper and the circumstances may require.