Section 757.868 - Oregon Community Power to be successor in interest to incumbent utility; rules(1) If Oregon Community Power acquires an incumbent utility under ORS 757.812 to 757.950, unless otherwise required by the Oregon Constitution, Oregon Community Power shall constitute the successor in interest to the incumbent utility as of the date of the acquisition for all purposes, including but not limited to: (a) Allocation of territory and contracts allocating territory;(b) City franchise fee agreements; and(c) Contracts or obligations of any nature, to the extent the contracts or obligations apply to a successor in interest to the incumbent utility.(2) Until the board of directors of Oregon Community Power establishes bylaws governing the procedures for conducting a ratemaking hearing and establishing rates under ORS 757.812 to 757.950 and under those procedures establishes one or more new rates or tariffs or establishes one or more changes in rates or tariffs, Oregon Community Power shall: (a) Adopt all existing rate schedules in effect for the incumbent utility on the date of acquisition;(b) Adopt the general rules and regulations of the incumbent utility's tariffs; and(c) Maintain Oregon Community Power books and records in accordance with generally accepted accounting principles and with the uniform system of accounts established by the Federal Energy Regulatory Commission.(3) If Oregon Community Power acquires an incumbent utility under ORS 757.812 to 757.950, Oregon Community Power is subject to all privilege taxes imposed by municipalities that the incumbent utility was required to pay to municipalities immediately before the acquisition.