Transfer of Outstanding Shares of Stock
NY-ADR
10/26/11 N.Y. St. Reg. PSC-43-11-00012-P
NEW YORK STATE REGISTER
VOLUME XXXIII, ISSUE 43
October 26, 2011
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-43-11-00012-P
Transfer of Outstanding Shares of Stock
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
The Commission is considering the petition of HPWS, LLC for approval to acquire all of the outstanding shares of stock of The Meadows at Hyde Park Water-Works Corporation.
Statutory authority:
Public Service Law, sections 4(1), 5(1)(f), 89-c(1), (10) and 89-h
Subject:
Transfer of outstanding shares of stock.
Purpose:
Transfer the issued outstanding shares of stock of The Meadows at Hyde Park Water-Works Corporation to HPWS, LLC.
Substance of proposed rule:
The Meadows at Hyde Park Water-Works Corporation (company) was created to serve up to 74 customers in the The Meadows at Hyde Park development (development) located in the Town of Hyde Park, Dutchess County. The developer, BVC Land Development, Inc., defaulted on a mortgage secured by lots in the development and those lots are currently in title of the referee in foreclosure. An entity affiliated with HPWS, LLC (HPWS) is expected to acquire title from the referee and take over developing pending HPWS’s acquiring control and ownership of the company.
On June 24, 2011, a petition was filed by HPWS requesting approval, pursuant to Public Service Law § 89-h, of the transfer of ownership of the shares of stock by the company to HPWS. The Commission may approve or reject, in whole or in part, or modify the request.
Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.state.ny.us/f96dir.htm. For questions, contact:
Leann Ayer, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: [email protected]
Data, views or arguments may be submitted to:
Jaclyn A. Brilling, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email: [email protected]
Public comment will be received until:
45 days after publication of this notice.
Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement
Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(11-W-0344SP1)
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