[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC824b]
TITLE 16--CONSERVATION
CHAPTER 12--FEDERAL REGULATION AND DEVELOPMENT OF POWER
SUBCHAPTER II--REGULATION OF ELECTRIC UTILITY COMPANIES ENGAGED IN
INTERSTATE COMMERCE
Sec. 824b. Disposition of property; consolidations; purchase of
securities
(a) Authorizations
No public utility shall sell, lease, or otherwise dispose of the
whole of its facilities subject to the jurisdiction of the Commission,
or any part thereof of a value in excess of $50,000, or by any means
whatsoever, directly or indirectly, merge or consolidate such facilities
or any part thereof with those of any other person, or purchase,
acquire, or take any security of any other public utility, without first
having secured an order of the Commission authorizing it to do so. Upon
application for such approval the Commission shall give reasonable
notice in writing to the Governor and State commission of each of the
States in which the physical property affected, or any part thereof, is
situated, and to such other persons as it may deem advisable. After
notice and opportunity for hearing, if the Commission finds that the
proposed disposition, consolidation, acquisition, or control will be
consistent with the public interest, it shall approve the same.
(b) Orders of Commission
The Commission may grant any application for an order under this
section in whole or in part and upon such terms and conditions as it
finds necessary or appropriate to secure the maintenance of adequate
service and the coordination in the public interest of facilities
subject to the jurisdiction of the Commission. The Commission may from
time to time for good cause shown make such orders supplemental to any
order made under this section as it may find necessary or appropriate.
(June 10, 1920, ch. 285, pt. II, Sec. 203, as added Aug. 26, 1935, ch.
687, title II, Sec. 213, 49 Stat. 849.)
Transfer of Functions
Federal Power Commission terminated and its functions with regard to
establishment, review, and enforcement of rates and charges for
transmission or sale of electric energy, including determinations on
construction work in progress under this su
