§ 17-191.2. Procedure for acquisition, control or merger of certain domestic public utilities.

No person, other than the issuer of the securities of the domestic public utility or an affiliate of such an issuer, shall make a tender offer for, request or invite tenders of, or enter into any agreement to exchange, seek to acquire, or acquire, in the open market or otherwise, any voting security of a domestic public utility regulated by the Corporation Commission or any holding company controlling such domestic public utility if, after the consummation of such action, such person would, directly or indirectly, or by conversion or by exercise of any right to acquire, be in control of such domestic public utility or holding company, and no person shall merge with or otherwise acquire control of a domestic public utility or holding company unless the acquiring party is an affiliate of such domestic public utility or holding company or unless, at the time any such offer, request or invitation is made or any such merger is consummated, or prior to the acquisition of such securities if no offer or agreement is involved, such person has filed with the Commission and has sent to such domestic public utility or holding company, a statement containing the information required by Section 191.3 of this title and such offer, request, invitation, merger or acquisition has been approved by the Commission in the manner prescribed in Section 191.5 of this title.  The Commission may modify the aforementioned procedures to the extent necessary to conform to the requirements of Regulation 14D under the Securities Exchange Act of 1934, 15 U.S.C. Sections 78a-78jj, as amended.

Added by Laws 1983, c. 292, § 2, eff. Nov. 1, 1983.  Amended by Laws 2004, c. 196, § 2, emerg. eff. May 4, 2004.