Nothing contained in this chapter, including any duty imposed, any right, power, or privilege granted, the exercise, receipt, or acceptance of any such right, privilege, or permit under the authority of this chapter nor any act done under the authority of this chapter shall be construed or given effect to abrogate, modify, or affect the duties and obligations of electrical or other public utilities as declared by the Supreme Court of South Carolina in the case of State ex rel. Daniel, Attorney General v Broad River Power Company, et al, 157 SC 1, 153 SE 537. However, if both a municipality and electrical or other public utility mutually agree, the electrical or other public utility may grant, transfer, abrogate, modify, sell, or impose upon the municipality the duty or obligation to provide a public transit system to the municipality. The terms of such a grant, transfer, abrogation, modification, sale, or imposition of the duty or obligation to provide a public transit system from an electrical or other public utility to a municipality shall take effect only upon the transfer of the public transit system from the public utility to the municipality or another governmental entity.