13.302 – PURCHASE OF VOTING STOCK IN ANOTHER PUBLIC
Texas Water Code § 13.302
Summary
This law requires utilities to file a written application with the utility commission before purchasing voting stock in another utility. It affects utilities and individuals seeking to acquire controlling interests in utilities operating in Texas.
Utilities must file an application 61 days prior to stock purchase.
Acquisition of controlling interest also requires commission approval.
Applies to all utilities operating within Texas.
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In simple terms: Learn about Texas's PURCHASE OF VOTING STOCK IN ANOTHER PUBLIC law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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