1. It is unlawful for any public utility which serves 3,000 or fewer persons and furnishes water or services for the disposal of sewage, or both, to: (a) Sell, lease or otherwise dispose of; or (b) Encumber by mortgage, deed of trust, security agreement or otherwise, any or all of its real property or goods, including fixtures, or any combination thereof which are necessary in the present or future performance of its duties to the public regarding water or sewage without first obtaining approval from the Commission which authorizes the public utility to do so. This limitation applies to any interest in real property, including, without limitation, easements and water rights. 2. Any such action: (a) Which is not taken in accordance with the approval of the Commission; or (b) Which is taken without obtaining the approval from the Commission, is void. 3. If the public utility is disposing of all of its real property and goods, the Commission shall hold a public hearing on the matter before determining whether to approve the disposal. 4. The Commission shall adopt regulations which set forth the types and quantities of property and goods that are necessary in the performance of the duties of the various classes of public utilities. 5. The provisions of this section are not intended to limit the regulatory authority of the Commission granted in other sections of this chapter. 6. The provisions of this section do not apply to a public utility engaged in the business of furnishing, for compensation, water or services for the disposal of sewage, or both, to persons within this state if the utility: (a) Serves 15 persons or less; and (b) Operates in a county whose population is 700,000 or more.
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