56-88 - Definitions.
§ 56-88. Definitions.
In this chapter the following terms shall have the following meanings:
"Acquire" or "acquisition" includes any purchase or other acquisition,whether by payment, exchange, gift, conveyance, lease, license, merger,consolidation or otherwise.
"Company" means a corporation, a partnership, an association, a joint-stockcompany, a business trust or an organized group of persons, whetherincorporated or not; or any receiver, trustee or other liquidating agent ofany of the foregoing in his capacity as such; but not a municipal corporationor county.
"Dispose of" or "disposition" includes any sale or other disposition,whether by payment, exchange, gift, conveyance, lease, license, merger,consolidation or otherwise.
"Public utility" means any company which owns or operates facilities withinthe Commonwealth for the generation, transmission or distribution of electricenergy for sale; for the production, transmission or distribution, otherwisethan in enclosed portable containers, of natural or manufactured gas for salefor heat, light or power, but excluding any company described in subdivision(b)(8) or (b)(10) of § 56-265.1; or for the furnishing of sewerage facilitiesor water.
"Utility assets" means the facilities in place of any public utility ormunicipality for the production, transmission or distribution of electricenergy or natural or manufactured gas, or for the furnishing of seweragefacilities or water.
"Utility security" means any note, draft, debenture, bond, share of stock,certificate, collateral trust certificate, preorganization certificate orsubscription, transferable share, investment contract, receiver's ortrustee's certificate or any other instrument or interest commonly known as asecurity which is issued, assumed or guaranteed by any public utility or anycompany which would be a public utility if the facilities owned or operatedby it were within the Commonwealth, or any company substantially engaged inthe ownership of any of the aforesaid securities or in supplying managementor advice to any of the aforesaid companies; or any certificate of depositfor, voting trust certificate for, certificate of interest or participationin, temporary or interim certificate for, receipt for, guaranty of,assumption of liability on, or warrant or right to subscribe to or purchaseor acquire, any of the aforesaid securities.
(1940, p. 425; Michie Code 1942, § 3774l; 1992, c. 376; 2000, cc. 528, 543;2009, c. 746.)