January 1, 2061 to December 31, 2070
January 1, 2071 to December 31, 2080
January 1, 2081 and beyond
$34.4 million
$44 million
$56.3 million
(iii) With respect to all utilities, a transaction, regardless of amount, that constitutes
a sale, assignment, transfer, or encumbrance of interests in fuel, natural gas, purchased
power, electric or natural gas transmission capacity, natural gas storage services, or
other commodities, if such transaction is otherwise subject to review for reasonableness
and prudence in a gas cost recovery or power supply cost recovery proceeding, or a
successor thereof.
(iv) With respect to cooperative utilities whose rates are regulated by the
commission, an encumbrance of assets in which the total aggregate proceeds to the
jurisdictional regulated utility from all of the currently outstanding encumbrances
immediately following the encumbrance will not exceed 5 million dollars.
A transaction described in subdivision (j) (i), (ii), (iii), or (iv) of this rule shall not be
classified as in the normal course of business if the transaction, either directly or
indirectly, is in connection with the acquisition, transfer of control, or merger of a
jurisdictional regulated utility, or if the transaction involves the transfer or sale of an
electrical generating plant that has a total installed generating capacity (nameplate
rating) of more than 20 megawatts.
(k) "Sell assets" means the transfer to another person of any of the interest in an
asset or assets.
(l) "Transaction" means an acquisition, merger, transfer of control, sale, assignment,
transfer, or encumbrance as provided in R 460.301.
(m) "Transaction date," for purposes of the tables found in subdivision (j) (i) and (ii)
of this rule only, means the date on which a jurisdictional regulated utility and another
party to the transaction execute a final agreement for the transfer, sale, or
assignment of an asset of the jurisdictional regulated utility.
(n) "Transfer assets" means the sale or assignment to another person of any of the
interest in an asset or assets. It does not include the transfer of pension plan or other
retirement assets done to facilitate a change in the management of such assets.
(o) "Transfer of control" means the transfer to another person of the power to direct
or cause the direction of the management and policies of a jurisdictional regulated
utility, whether through the ownership of voting interests or voting securities, by
contract including acquisition of assets, or otherwise. Transfer of control is presumed to
occur under either of the following conditions:
(i) After the transfer, the transferee, by formal or informal arrangement, device, or
understanding, directly or indirectly, owns, controls, holds with the right to vote, or
holds proxies representing 50% or more of the outstanding voting interests or voting
securities that are entitled to elect a majority of the board of directors or other
governing body of the jurisdictional regulated utility.
(ii) After the transfer, the transferee, by formal or informal arrangement, device, or
understanding, directly or indirectly, owns, controls, holds with the right to vote, or
holds proxies representing 20% or more of the outstanding voting interests or voting
securities that are entitled to elect a majority of the board of directors or other
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