Texas Utilities Code

§ 181.088 — CONSOLIDATION OF UTILITIES

UT § 181.088Title 4. DELIVERY OF UTILITY SERVICES · Part B. PROVISIONS REGULATING DELIVERY OF SERVICES · Ch. 181. MISCELLANEOUS POWERS AND DUTIES OF UTILITIES · Art. E. PROVISIONS APPLYING TO TELEPHONE AND TELEGRAPH CORPORATIONS

Statute text

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(a)A telephone or telegraph corporation organized under the law of this state may consolidate or otherwise unite with one or more other companies organized under the law of a state or the United States if the union or consolidation:

(1)is approved, at a regular meeting of the corporation's stockholders, by a vote of persons holding a majority of the shares of stock of the corporation; and

(2)is done with the consent of each other company.

(b)The company resulting from the consolidation or other union may hold, use, and enjoy the rights and privileges given by the law of this state to, and has the same liabilities of, a company separately organized under the law of this state relating to corporations.

Legislative history

Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.