Oklahoma Administrative Code (Last Updated: March 11, 2021) |
TITLE 165. Corporation Commission |
Chapter 75. Cotton Gin Utilities |
Subchapter 3. Applications |
SECTION 165:75-3-7. Change of ownership-lease
Latest version.
- (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.