199—32.1(476) Applicability and definition of terms.
	32.1(1) This chapter applies to any person who intends to acquire, sell, lease, or otherwise dispose directly or indirectly of the whole or any substantial part of a public utility’s assets; or purchase, acquire, sell, or otherwise dispose of the controlling capital stock of any public utility, either directly or indirectly. For utilities with more than one regulated line of business, the utility revenue limit shall be calculated using the revenue of the specific line of utility business involved in the transaction, not the combined utility revenues.
	32.1(2) This chapter does not apply to transfers or removals of a public utility’s assets that are made specifically pursuant to a board deregulation order, as long as those transfers or removals occur within 12 months of the board’s approval of an accounting separation plan, or to transactions where board approval is otherwise required in a contested case proceeding.
[ARC 8063C, IAB 6/12/24, effective 7/17/24]