                                 CODE OF VIRGINIA

ACQUISITION OR DISPOSITION OF UTILITY ASSETS OR UTILITY SECURITIES (§ 56-89)

It shall be unlawful for any public utility, directly or indirectly, to acquire
or dispose of any utility assets situated within the Commonwealth or any utility
securities of any other company unless such acquisition or disposition shall
have been authorized by the Commission. If and when so authorized by the
Commission, any public utility may acquire or dispose of any such utility assets
or utility securities; but no such authorization by the Commission shall confer
upon any county or municipality authority, other than that otherwise conferred
by law, to acquire or to dispose of any utility assets or utility securities.

HISTORY: 1940, p. 426; Michie Code 1942, § 3774m.