SENATE DOCKET, NO. 326        FILED ON: 1/15/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1577

The Commonwealth of Massachusetts

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PRESENTED BY:

Benjamin B. Downing

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act regulating the sale of telephone transmission lines.

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PETITION OF:

SENATE DOCKET, NO. 326        FILED ON: 1/15/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1577

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1656 OF 2011-2012.]

The Commonwealth of Massachusetts

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In the Year Two Thousand Thirteen

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An Act regulating the sale of telephone transmission lines.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Section 15B of Chapter 166 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by striking out the first sentence, and inserting in place thereof the following sentence:-

A corporation organized under the laws of the commonwealth for the transmission of intelligence by electricity or by telephone, whether by electricity or otherwise, hereinafter called the vendor corporation, may, pursuant to a vote of stockholders owning not less than two thirds of its capital stock, at a meeting duly called for the purpose, sell or transfer to a corporation organized for a similar purpose under the laws of the commonwealth or of another state, hereinafter called the vendee corporation, and which owns a majority of the stock of the vendor corporation, all or any of the property of the vendor corporation located upon, along, under and across the public ways or elsewhere; provided, that any sale of lines for the transmission of intelligence by telephone must include the transfer of all such lines owned by the vendor corporation within the Commonwealth to the vendee corporation, and provided, that any such vendee corporation, if a foreign corporation, is at the time of such sale or transfer engaged within the commonwealth in interstate commerce and shall have been so engaged for not less than twenty years immediately preceding such sale or transfer.