{"data":{"id":"us-ok/okla.-stat.-tit.-17-17-191.5","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 17, § 17-191.5","heading":"Conditions for disapproval of acquisition of control or","body":"merger - Hearing.\n\nA. The Corporation Commission shall approve any merger or other\n\nacquisition of control referred to in Section 191.2 of this title\n\nupon such terms and conditions as it deems necessary or appropriate\n\nin the public interest unless, after a public hearing thereon, it\n\nfinds that one or more of the following conditions exist or will\n\nexist if such merger or other acquisition of control is consummated,\n\nin which event it shall disapprove such merger or acquisition of\n\ncontrol and the same shall not be consummated:\n\n1. The acquisition of control would adversely affect the\n\ncontractual obligations of the domestic public utility or of any\n\nperson controlling such domestic public utility, or its ability or\n\ncommitment to continue to render the same level of service to its\n\ncustomers that the domestic public utility is currently rendering;\n\n2. The effect of the merger or other acquisition of control\n\nwould be substantially to lessen competition in the furnishing of\n\npublic utility service in this state;\n\n3. The financial condition of any acquiring party is such as\n\nmight jeopardize the financial stability of the domestic public\n\nutility or any person controlling such domestic public utility or\n\notherwise prejudice the interest of the domestic public utility's\n\ncustomers;\n\n4. The plans or proposals which an acquiring party has to\n\nliquidate the public utility or any such controlling person, sell\n\nits assets, or a substantial part thereof, or consolidate or merge\n\nit with any person, or to make any other material change in its\n\ninvestment policy, business or corporate structure or management,\n\nwould be detrimental to the customers of the domestic public utility\n\nand not in the public interest;\n\n5. The competence, experience and integrity of those persons\n\nwho would control the operation of the domestic public utility are\n\nsuch that it would not be in the interest of its customers and the\n\npublic to permit the merger or other acquisition of control;\n\n6. After giving effect to the merger or other acquisition of\n\ncontrol of a domestic public utility whose utility service includes\n\nthe furnishing of electric current, such domestic public utility\n\nwould not be operated, in the judgment of the Commission, on an\n\nintegrated basis with the domestic public utilities and foreign\n\npublic utilities affiliated with the acquiring party and, if the\n\nacquiring party is a domestic public utility or foreign public\n\nutility, with the acquiring party; or\n\n7. Prior to giving effect to the merger or other acquisition of\n\ncontrol of a domestic public utility whose utility service includes\n\nthe furnishing of electric current, the acquiring party is not\n\nsubstantially engaged in the business of providing utility service.\n\nProvided that, in the discretion of the Commission, the condition\n\nshall not apply to an acquiring party that on the effective date of\n\nthis act, directly or indirectly, through one or more of its\n\naffiliates:\n\na. owns more than fifty percent (50%) of an electric\n\ngenerating facility in this state, and\n\nb. is selling power from such facility to the domestic\n\npublic utility pursuant to a contract approved by the\n\nCommission.\n\nFurther provided that this exception to this condition shall\n\napply only to an acquiring party that on the effective date of this\n\nact, directly or indirectly through one or more of its affiliates,\n\nmeets the requirements of subparagraphs a and b of this paragraph\n\nand shall not apply to any third party that after the effective date\n\nof this act acquires directly or indirectly such acquiring party or\n\nall or part of the generating facility described in subparagraphs a\n\nand b of this paragraph.\n\nB. The public hearing referred to in subsection A of this\n\nsection shall be commenced within sixty (60) days after the\n\nstatement required by Section 191.2 of this title is filed. The\n\nplace, date and time for such public hearing shall be set by the\ncquires directly or indirectly such acquiring party or\n\nall or part of the generating facility described in subparagraphs a\n\nand b of this paragraph.\n\nB. The public hearing referred to in subsection A of this\n\nsection shall be commenced within sixty (60) days after the\n\nstatement required by Section 191.2 of this title is filed. The\n\nplace, date and time for such public hearing shall be set by the\n\nCommission and notice thereof shall be given by the Commission to\n\nthe person filing the statement and to the domestic public utility\n\nat least twenty (20) days prior to the date of the public hearing.\n\nNotice of the public hearing shall be given by the person filing the\n\nstatement to such other persons and in such manner as may be\n\ndirected by the Commission at least fifteen (15) days prior to such\n\npublic hearing. The domestic public utility shall give notice to\n\nits customers as provided in Section 191.6 of this title. The\n\npublic hearing referred to in subsection A of this section shall be\n\nconcluded within sixty (60) days after the commencement of such\n\nhearing unless it is necessary, for good cause shown or in the\n\njudgment of the Commission, to continue such hearing for sixty (60)\n\ndays. The Commission shall make a determination on the factors\n\nspecified in subsection A of this section within sixty (60) days\n\nafter the conclusion of such hearing, and any merger or other\n\nacquisition of control within the purview of this section shall be\n\ndeemed approved as filed unless the Commission has, within sixty\n\n(60) days after the conclusion of such hearing, entered its order\n\napproving the merger or other acquisition upon such terms and\n\nconditions as it deems necessary or appropriate in the public\n\ninterest or disapproving the merger or other acquisition of control.\n\nC. In determining whether a domestic public utility whose\n\nutility service includes furnishing electric current would be\n\noperated on an integrated basis under paragraph 6 of subsection A of\n\nthis section, the Commission shall consider such factors as physical\n\ninterconnection to the acquiring party or its affiliates and the\n\nability to be economically operated with the acquiring party and its\n\naffiliates as a single coordinated system not so large as to impair\n\nthe advantages of localized management, efficient operation and the\n\neffectiveness of regulation.\n\nD. In determining whether an acquiring party is or is not\n\nsubstantially engaged in providing utility service under paragraph 7\n\nof subsection A of this section, an acquiring party shall be deemed\n\nto not be substantially engaged in the business of providing utility\n\nservice if, based on the information included in the schedule filed\n\npursuant to paragraph 10 of subsection A of Section 191.3 of this\n\ntitle, the amount of the total nonutility assets of the acquiring\n\nparty exceeds the amount of the total utility assets of the\n\nacquiring party.","path":["OK Code","Title 17"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os17.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"008541ce5ce9f223a31bc73b0ad8cba63e1104cc630f9e73fce3a51c386d50da","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-17-17-191.4","next":"us-ok/okla.-stat.-tit.-17-17-191.6"},"notice":"GroundRules: Original legal text. Not legal advice."}