CHAPTER 24. GAS PIPELINE SECURITIES

IC 8-1-24
    Chapter 24. Gas Pipeline Securities

IC 8-1-24-1
Approval of commission not required for certain transactions
    Sec. 1. Notwithstanding any other statute or rule of law of thestate, any corporation or other business entity engaged in thetransmission of gas by pipeline, which is subject to the supervision,control, or jurisdiction of the federal government or any agency,board or commission thereof with respect to construction ofadditional facilities, shall not be required to obtain the leave,approval, or consent of the commission for the issuance of any of itsstocks, certificates of stock, bonds, notes, or other evidences ofindebtedness nor shall any such corporation or other business entitybe required to obtain the approval of the commission in order to sell,assign, transfer, lease, or encumber its franchise, works, or system toany other person, partnership, limited liability company, orcorporation.
(Formerly: Acts 1973, P.L.64, SEC.1.) As amended by P.L.23-1988,SEC.59; P.L.8-1993, SEC.130.

IC 8-1-24-2
Exemption from IC 8-1-1 and IC 8-1-2
    Sec. 2. Any corporation or other business entity engaged in thetransmission of gas by pipeline, and which is subject to thesupervision, control, or jurisdiction of the federal government, or anyagency, board, or commission thereof with respect to construction ofadditional facilities, shall be exempt from and after July 26, 1973,from all provisions of IC 8-1-1 and IC 8-1-2 with respect to theissuance of its stocks, certificates of stock, bonds, notes, or otherevidences of indebtedness and with respect to the sale, assignment,transfer, lease, or encumbrance of its franchise, works, or system.
(Formerly: Acts 1973, P.L.64, SEC.1.) As amended by P.L.59-1984,SEC.92; P.L.23-1988, SEC.60.