New Hampshire Revised Statutes 374:32 – Corporate Authorization
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Except when the public utility is an excepted local exchange carrier, if such public utility, or the other party to any such transfer, lease, or contract, be a corporation and if the commission shall find that the public good so requires, such transfer, lease, or contract shall first be authorized by the vote of
2/3 of the shares of the capital stock of each of the interested corporations present and voting at meetings duly called to consider the subject; and all statutes regulating, protecting, and determining the rights of a dissenting stockholder of a railroad in the case of a lease or union with another railroad shall be applicable, and the rights of any stockholder of such corporation dissenting from such transfer, lease, or contract, if the same shall be authorized as above provided, shall be regulated, protected, and determined by such statutes.
2/3 of the shares of the capital stock of each of the interested corporations present and voting at meetings duly called to consider the subject; and all statutes regulating, protecting, and determining the rights of a dissenting stockholder of a railroad in the case of a lease or union with another railroad shall be applicable, and the rights of any stockholder of such corporation dissenting from such transfer, lease, or contract, if the same shall be authorized as above provided, shall be regulated, protected, and determined by such statutes.
Terms Used In New Hampshire Revised Statutes 374:32
- commission: as used in this title , means the public utilities commission. See New Hampshire Revised Statutes 362:1
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Excepted local exchange carrier: means :
(1) An incumbent local exchange carrier providing telephone services to 25,000 or more lines; or
(2) An incumbent local exchange carrier providing service to less than 25,000 lines that elects to be excepted, upon the filing with the commission of a written notice advising of said election; or
(3) Any provider of telecommunications services that is not an incumbent local exchange carrier. See New Hampshire Revised Statutes 362:7 - Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC