N.D. Cent. Code § 49-04-05: Commission approval required to dispose of or encumber franchises, works, or systems - Exceptions

A public utility may not dispose of, encumber, merge, or consolidate its franchise, works, or system necessary or useful in the performance of its duties to the public without prior commission approval. This section does not apply to:

1.Disposal or encumbrance of tangible property valued at less than five hundred thousand dollars.

2.Sale of securities registered with the federal securities and exchange commission.