N.J. Admin. Code § 14:17-6.14

Current through Register Vol. 56, No. 12, June 17, 2024

Section 14:17-6.14 - Petitions for authority to transfer capital stock

(a) Petitions for authority to transfer upon the books and records of any cable television company, pursuant to 48:5A-1 et seq., where applicable, any share or shares of its capital stock, shall conform to the provisions of N.J.A.C. 14:17-4 and 14:17-6.1 through 6.4, to the extent applicable, and shall in the body thereof, or in attached exhibits, also provide the following information:

1. The name and address of the proposed transferor and transferee;

2. A description of the proposed transferee including information as to whether the proposed transferee is a cable television company, a holding company either separately or by affiliation in a cable television holding company system, or a person or other domestic or foreign corporation;

3. A description of the capital stock proposed to be transferred including the class of shares, number of shares and the par or stated value thereof;

4. The per cent in interest of the outstanding voting capital stock of the cable television company which the proposed transfer, either by itself or in connection with other previous sales or transfers, will vest in the transferee;

5. The reason for the proposed transfer;

6. Details and explanation of any changes expected to be made, if petition is approved, in:

i. Board of Directors;

ii. Officers and active managers;

iii. Company policies with respect to its operations, financing, accounting, capitalization, rates, depreciation, maintenance, services and other matters affecting the public interest.

7. The qualifications and the business or technical experience of the proposed officers, directors and stockholders, or other principal management and operating personnel with particular respect to their ability to carry out the cable television company's obligation to render safe, adequate, efficient and proper service.

8. Proof of service of notice of the proposed transfer to the municipalities being served by the cable television company.

(b) For purposes of this section, proof of service of notice shall include a copy of the notice and certification of service upon the indicated party.

N.J. Admin. Code § 14:17-6.14

Amended by R.1985 d.449, effective 9/3/1985.
See: 17 New Jersey Register 1062(b), 17 New Jersey Register 2142(b).
Proof of service of notice to municipalities added at (a)8.
Amended by R.1994 d.194, effective 4/18/1994.
See: 26 New Jersey Register 96(a), 26 New Jersey Register 1683(a).
Amended by R.1999 d.108, effective 4/5/1999.
See: 30 New Jersey Register 4131(a), 31 New Jersey Register 898(a).
Added (b).