Texas Water Code 13.251 – Sale, Assignment, or Lease of Certificate
Current as of: 2024 | Check for updates
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Terms Used In Texas Water Code 13.251
- 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.
- 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
Except as provided by § 13.255, a utility or a water supply or sewer service corporation may not sell, assign, or lease a certificate of public convenience and necessity or any right obtained under a certificate unless the utility commission has determined that the purchaser, assignee, or lessee is capable of rendering adequate and continuous service to every consumer within the certified area, after considering the factors under § 13.246(c). The sale, assignment, or lease shall be on the conditions prescribed by the utility commission.