Opinion ID: 2210872
Heading Depth: 1
Heading Rank: 2

Heading: public service commission approval and stockholder authorization as prerequisites to a section 18a condemnation

Text: It is Decatur REMC's position that IC 1971, 8-1-2-84 (Ind. Ann. Stat. § 54-510 [1951 Repl.]) implicitly provides that a condemnation proceeding brought pursuant to Section 18A requires approval by the Public Service Commission and by the stockholders of Public Service Company of Indiana. IC 1971, 8-1-2-84 reads, in part, as follows: Any such public utility may purchase or lease the used and useful property, plant or business, or any part thereof, of any other such public utility at a price and on terms approved by the commission. Whenever, in the case of any such purchase, the amount to be paid by the purchaser for the property, plant or business to be purchased shall be an amount in excess of five [5] per cent of the book cost to the purchaser of all the properties, plants and business owned by it at the time application is made to the commission for approval of such purchase, or whenever, in the case of any such lease, the book cost to the lessor of the property, plant or business to be leased shall be an amount in excess of five [5] percent of the book cost to the lessee of all the properties, plants and business owned by the lessee at the time application is made to the commission for approval of such lease, there shall be obtained from the holders of three-fourths of the voting stock of such purchaser or lessee their consent, authority and approval to such purchase or lease. We reject this argument for two reasons. First, 8-1-2-84 makes no mention of condemnation actions, but, rather, deals only with voluntary sales or leases. Second, Section 18A makes no reference to the requirements of 8-1-2-84. In the absence of explicit language to the contrary, we must assume that the legislature intended to exempt condemnation actions from the requirements of 8-1-2-84.