Utility deals would need a public-interest finding from regulators

The Public Service Commission would have to find a public utility transaction serves the public interest before allowing it. This applies to sales, transfers, mortgages, mergers, and consolidations of a public utility, as defined in section 386.020.

A person, utility, or company acquiring at least half of a small water or sewer utility's stock would have to notify the commission. This covers water and sewer utilities that regularly serve 8,000 or fewer customers. A utility that is late filing its annual report, at least six months late paying its commission assessment, or violating commission or state environmental rules could not sell or transfer at least half its stock without the commission's consent. The acquirer would have to notify the commission within 30 days of the acquisition.