704.7591 - Conditions and limitations on disposal of generation assets pursuant to certain mergers, acquisitions, transactions and transfers. - Nevada Statutes

704.7591  Conditions and limitations on disposal of generation assets pursuant to certain mergers, acquisitions, transactions and transfers.

      1.  An electric utility may dispose of its generation assets pursuant to a merger, acquisition or transaction that is authorized pursuant to NRS 704.329 or pursuant to a transfer of its certificate of public convenience and necessity that is authorized pursuant to NRS 704.410, if:

      (a) The electric utility disposes of substantially all of its generation assets and substantially all of its other assets to the other person in the merger, acquisition, transaction or transfer; and

      (b) The other person in the merger, acquisition, transaction or transfer is not a subsidiary or affiliate of the electric utility or a holding company or other person that holds a controlling interest in the electric utility.

      2.  Any person who assumes or has assumed ownership, possession, control, operation, administration or maintenance of a generation asset pursuant to a merger, acquisition, transaction or transfer described in subsection 1 is subject to the provisions of NRS 704.7561 to 704.7595, inclusive.

      (Added to NRS by 2001, 345)

      NRS 704.7595  Effect of violation.  If an electric utility disposes of a generation asset in violation of NRS 704.7561 to 704.7595, inclusive, the disposal is void and unenforceable and is not valid for any purpose.

      (Added to NRS by 2001, 345)