(a) A deregulated company may petition the commission to relinquish the company’s certificate of convenience and necessity and receive a certificate of operating authority.
(b) The commission shall issue the deregulated company a certificate of operating authority and rescind the deregulated company’s certificate of convenience and necessity if the commission finds that all of the company’s markets have been deregulated under Subchapter B.

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(c) A deregulated company that holds a certificate of operating authority is a nondominant carrier.