SECTION 165:75-3-7. Change of ownership-lease

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(a)   No corporation, company, firm, or individual in this State shall sell, or lease nor shall any corporation, company, firm, or individual buy or lease, or otherwise change ownership or control of a cotton gin utility without first securing written permission and authority from this Commission.
(b)   Applicant seeking authority for change of ownership or control shall show the following primary factors:
(1)   Name of gin and location;
(2)   Name and address of seller or lessor;
(3)   Name and address of purchaser or lessee;
(4)   Name under which gin will operate;
(5)   Financial responsibility of purchaser or lessee; and
(6)   Willingness of purchaser or lessee to abide by the Cotton Gin Utilities rules and regulations as set forth in this Chapter.

                    
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