California Public Utilities Code 5970 – Subject to the requirements of this division, a state franchise may …
Subject to the requirements of this division, a state franchise may be transferred to any successor in interest of the holder to which the certificate originally is granted, whether this transfer is by merger, sale, assignment, bankruptcy, restructuring, or any other type of transaction, provided that the following conditions are met:
(a) The transferee submits to the commission all of the information required by this division of an applicant.
Terms Used In California Public Utilities Code 5970
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Commission: means the Public Utilities Commission created by §. See California Public Utilities Code 20
- State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
(b) The transferee agrees that any collective bargaining agreement entered into by a video service provider shall continue to be honored, paid, or performed to the same extent as would be required if the video service provider continued to operate under its franchise for the duration of that franchise unless the duration of that agreement is limited by its terms or by federal or state law.
(Added by Stats. 2006, Ch. 700, Sec. 3. Effective January 1, 2007.)