Indiana Code § 8-1-2-91

Grant of licenses, permits, or franchises; state corporations or citizens
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Sec. 91. No license, permit or franchise to own, operate, manage or control any plant or equipment of any public utility shall be hereafter granted or transferred except to a corporation duly organized under the laws of the state of Indiana or to a citizen of such state. Formerly: Acts 1913, c.76, s.99.

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