{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-88.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-88.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-88.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-88.1.html"}],"law_id":72109,"edition_id":1,"section_id":72109,"structure_id":15494,"section_number":"56-88.1","catch_line":"Acquisition or disposition of control of a public utility","history":"1992, c. 376; 2011, cc. 738, 740.","full_text":"A\n\nNo person, whether acting alone or in concert with others, shall, directly or indirectly, acquire or dispose of control of:1\n\nA public utility within the meaning of this chapter, or all of the assets thereof, without the prior approval of the Commission. Any person proposing an acquisition or disposition for which Commission approval is required by this section shall seek such approval pursuant to the procedure of § 56-90; or2\n\nA telephone company, or all of the assets thereof, without the prior approval of the Commission. In determining whether to grant approval, the Commission shall consider only the financial, managerial, and technical resources to render local exchange telecommunications services of the person acquiring control of or all of the assets of the telephone company.\n\t\t\t\tThe Commission shall, after the filing of a completed application, approve or disapprove the requested acquisition or disposition within 60 days. The 60-day period may be extended by Commission order for a period not to exceed an additional 120 days. The application shall be deemed approved if the Commission fails to act within 60 days or any extended period ordered by the Commission.B\n\nAny such acquisition or disposition of control without prior approval shall be voidable by the Commission. In addition, the Commission is authorized to revoke any certificate of public convenience and necessity it has issued, order compliance with this chapter, or take such other action as may be appropriate within the authority of the Commission.C\n\nFor purposes of this section, “control” means (i) the acquisition of 25 percent or more of the voting stock or (ii) the actual exercise of any substantial influence over the policies and actions of any public utility or telephone company.D\n\nThis section shall not apply to any company engaged in the business of generating electricity whose rates and services are not regulated by the State Corporation Commission.","order_by":null,"text":{"0":{"id":259835,"text":"No person, whether acting alone or in concert with others, shall, directly or indirectly, acquire or dispose of control of:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":259836,"text":"A public utility within the meaning of this chapter, or all of the assets thereof, without the prior approval of the Commission. Any person proposing an acquisition or disposition for which Commission approval is required by this section shall seek such approval pursuant to the procedure of § 56-90; or","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":259837,"text":"A telephone company, or all of the assets thereof, without the prior approval of the Commission. In determining whether to grant approval, the Commission shall consider only the financial, managerial, and technical resources to render local exchange telecommunications services of the person acquiring control of or all of the assets of the telephone company.\n\t\t\t\tThe Commission shall, after the filing of a completed application, approve or disapprove the requested acquisition or disposition within 60 days. The 60-day period may be extended by Commission order for a period not to exceed an additional 120 days. The application shall be deemed approved if the Commission fails to act within 60 days or any extended period ordered by the Commission.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"B"},"3":{"id":259838,"text":"Any such acquisition or disposition of control without prior approval shall be voidable by the Commission. In addition, the Commission is authorized to revoke any certificate of public convenience and necessity it has issued, order compliance with this chapter, or take such other action as may be appropriate within the authority of the Commission.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A2","next_prefix":"C"},"4":{"id":259839,"text":"For purposes of this section, “control” means (i) the acquisition of 25 percent or more of the voting stock or (ii) the actual exercise of any substantial influence over the policies and actions of any public utility or telephone company.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"5":{"id":259840,"text":"This section shall not apply to any company engaged in the business of generating electricity whose rates and services are not regulated by the State Corporation Commission.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":15494,"edition_id":1,"name":"Utility Transfers Act","identifier":"5","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:55:33","date_modified":"2026-06-26 03:55:33","permalink":{"id":251147,"object_type":"structure","relational_id":15494,"identifier":"5","token":"56\/5","url":"\/56\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12881,"edition_id":1,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":248473,"object_type":"structure","relational_id":12881,"identifier":"56","token":"56","url":"\/56\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":79652,"structure_id":15494,"section_number":"56-88","catch_line":"Definitions","url":"\/56-88\/","token":"56\/5\/56-88","metadata":false},{"id":72109,"structure_id":15494,"section_number":"56-88.1","catch_line":"Acquisition or disposition of control of a public utility","url":"\/56-88.1\/","token":"56\/5\/56-88.1","metadata":false},{"id":83839,"structure_id":15494,"section_number":"56-89","catch_line":"Acquisition or disposition of utility assets or utility securities","url":"\/56-89\/","token":"56\/5\/56-89","metadata":false},{"id":66580,"structure_id":15494,"section_number":"56-90","catch_line":"Procedure for authority to acquire or dispose of utility assets or securities","url":"\/56-90\/","token":"56\/5\/56-90","metadata":false},{"id":78787,"structure_id":15494,"section_number":"56-90.1","catch_line":"Sale of utility assets or undivided fractional interest therein; taxation","url":"\/56-90.1\/","token":"56\/5\/56-90.1","metadata":false},{"id":79669,"structure_id":15494,"section_number":"56-90.2","catch_line":"Fair market valuations of water and sewer utility asset acquisitions","url":"\/56-90.2\/","token":"56\/5\/56-90.2","metadata":false},{"id":59052,"structure_id":15494,"section_number":"56-91","catch_line":"Violations of chapter","url":"\/56-91\/","token":"56\/5\/56-91","metadata":false},{"id":62643,"structure_id":15494,"section_number":"56-92","catch_line":"Short title","url":"\/56-92\/","token":"56\/5\/56-92","metadata":false}],"previous_section":{"id":79652,"structure_id":15494,"section_number":"56-88","catch_line":"Definitions","url":"\/56-88\/","token":"56\/5\/56-88","metadata":false},"next_section":{"id":83839,"structure_id":15494,"section_number":"56-89","catch_line":"Acquisition or disposition of utility assets or utility securities","url":"\/56-89\/","token":"56\/5\/56-89","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-88.1\/","history_text":"

This law was first created in 1992. The record of its establishment is cataloged in chapter 376 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1992 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2011, chapters 738<\/a> and 740<\/a>.<\/p>","references":false,"refers_to":[{"id":66580,"section_number":"56-90","catch_line":"Procedure for authority to acquire or dispose of utility assets or securities","order_by":null,"url":"\/56-90\/"}],"permalink":{"id":251153,"object_type":"law","relational_id":72109,"identifier":"56-88.1","token":"56\/5\/56-88.1","url":"\/56-88.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-88.1\/","token":"56\/5\/56-88.1","dublin_core":{"Title":"Acquisition or disposition of control of a public utility","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-88.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No person<\/span>, whether acting alone or in concert with others, shall, directly or indirectly, acquire<\/span> or dispose of<\/span> control<\/span> of: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A public utility<\/span> within the meaning of this chapter, or all of the assets<\/span> thereof, without the prior approval of the Commission<\/span>. Any person<\/span> proposing an acquisition<\/span> or disposition<\/span> for which Commission<\/span> approval is required by this section shall seek such approval pursuant to the procedure of § 56-90<\/a>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A telephone company<\/span>, or all of the assets<\/span> thereof, without the prior approval of the Commission<\/span>. In determining whether to grant approval, the Commission<\/span> shall consider only the financial, managerial, and technical resources to render local exchange telecommunications services of the person<\/span> acquiring control<\/span> of or all of the assets<\/span> of the telephone company<\/span>.\n\t\t\t\tThe Commission<\/span> shall, after the filing of a completed application, approve or disapprove the requested acquisition<\/span> or disposition<\/span> within 60 days. The 60-day period may be extended by Commission<\/span> order<\/span> for a period not to exceed an additional 120 days. The application shall be deemed approved if the Commission<\/span> fails to act within 60 days or any extended period ordered by the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Any such acquisition<\/span> or disposition<\/span> of control<\/span> without prior approval shall be voidable by the Commission<\/span>. In addition, the Commission<\/span> is authorized to revoke any certificate of public convenience and necessity it has issued, order<\/span> compliance with this chapter, or take such other action as may be appropriate within the authority of the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> For purposes of this section, “control<\/span>” means (i) the acquisition<\/span> of 25 percent or more of the voting stock or (ii) the actual exercise of any substantial influence over the policies and actions of any public utility<\/span> or telephone company<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> This section shall not apply to any company<\/span> engaged in the business of generating electricity whose rates<\/span> and services are not regulated by the State Corporation<\/span> Commission<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nACQUISITION OR DISPOSITION OF CONTROL OF A PUBLIC UTILITY (\u00a7 56-88.1)\n\nA. No person, whether acting alone or in concert with others, shall, directly or\nindirectly, acquire or dispose of control of:\n\n 1. A public utility within the meaning of this chapter, or all of the assets\n thereof, without the prior approval of the Commission. Any person proposing an\n acquisition or disposition for which Commission approval is required by this\n section shall seek such approval pursuant to the procedure of § 56-90; or\n\n 2. A telephone company, or all of the assets thereof, without the prior\n approval of the Commission. In determining whether to grant approval, the\n Commission shall consider only the financial, managerial, and technical\n resources to render local exchange telecommunications services of the person\n acquiring control of or all of the assets of the telephone company.\n \t\t\t\tThe Commission shall, after the filing of a completed application, approve\n or disapprove the requested acquisition or disposition within 60 days. The\n 60-day period may be extended by Commission order for a period not to exceed\n an additional 120 days. The application shall be deemed approved if the\n Commission fails to act within 60 days or any extended period ordered by the\n Commission.\n\nB. Any such acquisition or disposition of control without prior approval shall\nbe voidable by the Commission. In addition, the Commission is authorized to\nrevoke any certificate of public convenience and necessity it has issued, order\ncompliance with this chapter, or take such other action as may be appropriate\nwithin the authority of the Commission.\n\nC. For purposes of this section, “control” means (i) the acquisition\nof 25 percent or more of the voting stock or (ii) the actual exercise of any\nsubstantial influence over the policies and actions of any public utility or\ntelephone company.\n\nD. This section shall not apply to any company engaged in the business of\ngenerating electricity whose rates and services are not regulated by the State\nCorporation Commission.\n\nHISTORY: 1992, c. 376; 2011, cc. 738, 740.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}