The Birmingham age-herald., 1915-10-23
Secretary of State.
AN ACT
No. 2o5.l


 No. 205) (S. 664. Brown To authorize the sale and conveyance or lease of the property of a public utility, together with the franchises, contracts. good will and other assets of such pub lie utility, to a purchaser then engaged or proposing to engage in the business conducted by such public utility; and to authorize the sale and conveyance of the capital stock of corporation own ing and operating a public utility to a purchaser whether or not engaged or proposing to engage in the business Of such public utility, whenever the sale and conveyance or lease of the property of such public utility, and whenever the sale and conveyaTice of the capital stock of such corporation Is consistent with the interests of the public: and to provide for determining whether any sale and conveyance or lease proposed to be made under the provisions of this act is consistent with the interests of the public.
 Be it enacted by the legislature of Ala bama:
 Section l. The property of public util- ity, together with it's franchises, con tracts business, good will and other as- sets, may be lawfully sold and conveyed or leased to- and thereafter lawfully held, enjoyed and operated by. purchaser then engaged or proposing to engage in the business conducted by such public utility; or the capital stock of corporation own ing and operating pubic utility may be lawfully sold and conveyed to, and there- after lawfully held and enjoyed by, pur- chaser whether or not such purchaser is engaged, or proposes to engage, in the business conducted by such public utility; whenever such sale and conveyance or lease of the property, franchises, con tracts, goodwill and other assets of such public utility. or whenever the sale and Vf f>Qn ia nf corporation is consistent with the inter- ests of the public. In cases where the property of the public utility proposed to be sold and conveyed or leased lies within, and the franchises to and public duties thereof relate to. single municipality and in cases where such a public utility is owned by corporation, and it's capital stock is proposed to be sold, the question whether the proposed sale and conveyance or lease is consistent with the interests of the public shall be determined by the governing body of such municipality, and also by the railroad commission of Ala banla, and if the governing body Of such municipality and the railroad commission of Alabama shall each determine that the proposed sale and conveyance, or lease, is consistent with the interests of the public, their determination shall be shown by their approval of the proposed sale and conveyance or lease: in all other ldsC6 sale and conveyance lease is consistent with the interests of the public shall be determined by the railroad commission of Alabama, and if the railroad commission of Alabama determines that the proposed nale md conveyance or lease Is consistent with the interests of the public. it's deter imitation shall be shown by it's approval of the proposed sale and conveyance or slrase. Provided. that 90 days notice in . newspaper published in such municipal ity of such application shall be given before the hearing by the railroad commission. provided. how ever. that, if all or substantially all of the property and assets of any public util- ity corporation Is proposed to be sold un- der the provisions of this act. the same :, corporate procedure shall be nscessary as In the casesof other private corpora-