§ 5-205. Controlling interests in water and sewage disposal companies

   (a) Transfer. -- Without prior authorization of the Commission, a person may not transfer a controlling interest in a water company or sewage disposal company to another person.

(b) Required finding. -- The Commission may authorize the transfer of a controlling interest in a water company or sewage disposal company if the Commission finds that the transfer is consistent with the public convenience and necessity.

HISTORY: An. Code 1957, art. 78, § 65A; 1998, ch. 8, § 2.