42 USC 2373 - Transfer to governmental or other legal entity; determination of transferee

U.S Code last checked for updates: Nov 22, 2024

§ 2373.

Transfer to governmental or other legal entity; determination of transferee

(a)

Transfer may be made to one or more of the following, if the transferee has the legal authority to receive and operate the utility.

(1)

the city at the community;

(2)

the State in which the community is located;

(3)

any political subdivision or agency of that State; or

(4)

any person, firm, corporation, or other legal entity.

(b)

In determining the transferee for any utility, the Commission may consider the following:

(1)

the pattern of ownership of the comparable utilities in the State in which the community is located;

(2)

the ability of the transferee to operate the utility;

(3)

the probable price of the sale of the utility, the ability of the transferee to pay that price, and any probable expense;

(4)

the desires of the eligible voters of the community as directly expressed in any vote in any officially recognized procedure or in any procedure established by the Commission; and

(5)

the benefit to the United States in reducing possible requirements for local assistance as authorized in subchapters VII and VIII of this chapter.

(Aug. 4, 1955, ch. 543, ch. 7, § 73, 69 Stat. 480.)

cite as: 42 USC 2373