Home Table of Contents

§ 6-106. Substantial influence

West's Annotated Code of MarylandPublic UtilitiesEffective: June 1, 2019

West's Annotated Code of Maryland
Public Utilities (Refs & Annos)
Division I. Public Services and Utilities [Titles 1-15] (Refs & Annos)
Title 6. Business Structure (Refs & Annos)
Subtitle 1. Financing (Refs & Annos)
Effective: June 1, 2019
MD Code, Public Utilities, § 6-106
§ 6-106. Substantial influence
Currentness
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Affiliate” has the meaning stated in § 7-501 of this article.
(3) “Investor-owned electric company” means an electric company that is not a municipal electric utility or an electric cooperative.
Acquiring the power to exercise substantial influence
(b) For purposes of this section, a person is considered to have acquired, directly or indirectly, the power to exercise substantial influence over the policies or actions of an investor-owned electric company if the person:
(1) after any acquisition of voting interests, directly or indirectly owns, controls, or has the right to vote, or direct the voting of, at least 20% of the voting interests of the investor-owned electric company or an entity that owns or controls the investor-owned electric company;
(2) has the right to designate at least 20% of the board of directors or other governing body of the investor-owned electric company or an entity that owns or controls the investor-owned electric company; or
(3) is found by the Commission, directly or indirectly, or through one or more intermediaries, to have substantial influence over the policies or actions of an investor-owned electric company.
Limitation on acquiring power to exercise substantial influence
(c) A person may not acquire, directly or indirectly, the power to exercise substantial influence over the policies or actions of an investor-owned electric company if the person would become an affiliate of each investor-owned electric company in the State as a result of the acquisition.
Regulations
(d) The Commission may adopt regulations to implement this section.

Credits

Added by Acts 2019, c. 721, § 1, eff. June 1, 2019.
MD Code, Public Utilities, § 6-106, MD PUBLIC UTIL § 6-106
Current with legislation effective through July 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document