In case of failure of common carriers and telephone and telegraph companies to agree, the commission must supervise and fix all agreements, contracts, rates, or the divisions thereof and regulations between or among common carriers and telephone and telegraph companies, of whatever kind, placed under the control or supervision of the commission. Except for rates, transactions affecting rates, or transactions affecting service areas, the provisions of this section do not apply to transactions between a telephone cooperative association and its subsidiary corporation or cooperative association.
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