N.Y. Public Service Law § 99: Franchises and privileges

§ 99. Franchises and privileges. 1. No telegraph corporation or

telephone corporation hereafter formed shall begin construction of its

telegraph line or telephone line without first having obtained the

permission and approval of the commission and its certificate of public

convenience and necessity and the required consent of the proper

municipal authorities. Notwithstanding the foregoing, any such

certificate shall be deemed to be granted by the commission ninety days

after such corporation applies to the commission for a certificate,

unless the commission, or its designee, determines within such ninety

day period that the public interest requires the commission's review and

its written order.

2. No franchise nor any right to or under any franchise to own or

operate a telegraph line or telephone line shall be assigned,

transferred or leased, nor shall any contract or agreement hereafter

made with reference to or affecting any such franchise or right be valid

or of any force or effect whatsoever, unless the assignment, transfer,

lease, contract or agreement shall have been approved by the commission.

No telephone corporation shall transfer or lease its works or system or

any part of such works or system to any other person or corporation or

contract for the operation of its works or system, without the written

consent of the commission. Notwithstanding the foregoing, any such

transfer or lease between affiliated corporations with an original cost

of (a) less than one hundred thousand dollars proposed by a telephone

corporation having annual gross revenues in excess of two hundred

million dollars, (b) less than twenty-five thousand dollars proposed by

a telephone corporation having annual gross revenues of less than two

hundred million but more than ten million dollars or (c) less than ten

thousand dollars proposed by a telephone corporation having annual gross

revenues of less than ten million dollars and any other transfer or

lease between non-affiliates regardless of cost shall be effective

without the commission's written consent within ninety days after such

corporation notifies the commission that it plans to complete such

transfer or lease and submits a description of the transfer or lease,

unless the commission, or its designee, determines within such ninety

days that the public interest requires the commission's review and

written consent.

3. The approval of the commission to the exercise of a franchise or to

the assignment, transfer or lease of a franchise shall not be construed

to revive or validate any lapsed or invalid franchise or to enlarge or

add to the powers and privileges contained in the grant of any franchise

or to waive any forfeiture.