PROCEDURE FOR APPROVAL TO ACQUIRE PROPERTY

A public utility, prior to entering into a transaction, shall petition for and receive from the commission by formal written order approval for such transaction. A petition for approval of capital structure (parts 7825.1000 to 7825.1500 ) shall be filed concurrently with the petition for approval of transfer, merger, or consolidation if consideration for such a transaction is a security or securities as defined in part 7825.1000 . The commission may require an independent valuation of the property involved in the transaction.