Reference is to Printer's Date 1/10/18-H.
Amend the bill, as and if amended, by adding an appropriately numbered SECTION to read:
/ SECTION ___. Article 3, Chapter 27, Title 58 of the 1976 Code is amended by adding:
"Section 58-27-412.
(A) Notwithstanding another provision
of law, formal application to and written approval from the
Public Service Commission and the Utilities Consumer Advocate
must be obtained before:
(1)
the sale, assignment, pledge, or transfer of an existing
or future franchise with a retail electric provider issued
pursuant to the provisions of this chapter;
(2)
control of an existing or future franchise with a retail
electric provider issued pursuant to the provisions of this
chapter is changed, altered, or amended through stock transfer,
lease, or otherwise; or
(3)
the merger or consolidation affecting a retail electric
provider made through acquisition or control by stock purchase
or otherwise.
(B) The Public Service
Commission's and the Utilities Consumer Advocate's approval
required by this section must be given if justified by public
convenience or necessity; however, the Public Service
Commission's and the Utilities Consumer Advocate's approval must
be based on the best interests on the ratepayers and employees
of the State.
(C) The provisions of
this section do not apply to regular trading in listed
securities on recognized markets." /
Renumber sections to conform.
Amend title to conform.