1. (a) Subject matter.

   1. (1) Public utilities must file a formal application for approval of the organization, reorganization, consolidation, merger, acquisition, or stock purchase of a public utility or the sale, acquisition, lease, or rental of any utility plant or property constituting an operating unit or system under Arkansas Code §§ 23-3-101 and 23-3-102.
   2. (2) Exception. This section does not apply to telecommunications providers unless such provider is a nonelecting ILEC.

2. (b) Content. In addition to other requirements of any statute, order, or rule, the application shall contain:

   1. (1) The reasons on the part of each applicant for entering into the proposed organization, reorganization, consolidation, merger, acquisition, or stock purchase of a public utility or the sale, lease, or rental of any utility plant or property constituting an operating unit or system and a showing that it is consistent with the public interest;

   2. (2) An accurate detailed description of the plant or property affected together with the:

      1. (A) Original cost to applicant; and
      2. (B) Applicant’s statement as to the present value thereof;
   3. (3) If required by the Arkansas Public Service Commission, financial statements (balance sheet and income statement) per books and pro forma showing separately the effect of the proposed transaction;
   4. (4) A detailed description of the instrument or proposed instrument used in the transaction and a copy, in draft form if necessary, as soon as available;
   5. (5) Documentation of approval of the proposed transaction by the public utility board of directors;
   6. (6) Identification of the anticipated impacts on Arkansas ratepayers, including the quality of service and potential rate impacts with an explanation of how such impacts were determined;
   7. (7) Identification of all other regulatory approvals required or being sought; and
   8. (8) All information necessary for valuation of any property pursuant to Arkansas Code § 23-4-111, if applicable.

Codification Notes: This section was promulgated as Rule 10.02 of the Rules of Practice and Procedure prior to codification in the Code of Arkansas Rules.