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§ 6-304. Fair market value

West's Annotated Code of MarylandPublic UtilitiesEffective: October 1, 2018

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 3. Acquisition of Water Companies and Sewage Disposal Companies (Refs & Annos)
Effective: October 1, 2018
MD Code, Public Utilities, § 6-304
§ 6-304. Fair market value
Currentness
In general
(a) On agreement by both the acquiring entity and the selling utility, the fair market value of the selling utility shall be determined in accordance with this section.
Hiring utility valuation experts
(b) The acquiring entity and the selling utility shall each be responsible for hiring a utility valuation expert to conduct an appraisal of the selling utility to determine the fair market value of the selling utility.
Uniform Standards of Professional Appraisal Practice
(c) Each utility valuation appraisal shall be completed in accordance with the Uniform Standards of Professional Appraisal Practice.
Assessment of the tangible assets
(d)(1) The acquiring entity and the selling utility shall engage the services of the same licensed engineer to conduct an assessment of the tangible assets of the selling utility.
(2) The assessment shall be incorporated into the appraisals under subsection (c) of this section.

Credits

Added by Acts 2018, c. 219, § 1, eff. Oct. 1, 2018; Acts 2018, c. 220, § 1, eff. Oct. 1, 2018.
MD Code, Public Utilities, § 6-304, MD PUBLIC UTIL § 6-304
Current through legislation effective through July 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document