§ 39-20-4. Powers of foreign electric utilities and nonregulated power producers. (a) Notwithstanding the provisions of §§ 7-1.2-1401 and 7-1.2-1402, and any other provision of any general or special law relating to the rights of foreign corporations to transact business in this state and to produce a certificate of authority under chapter 1.2 of title 7 to transact business, limiting the powers, rights, and privileges of a foreign corporation procuring a certificate, and establishing the duties, restrictions, penalties, and liabilities imposed on a foreign corporation, but subject to the provisions of this chapter, a foreign electric utility:

(1) Shall have the right to transact business in this state to the extent necessary or desirable to exercise the powers set forth in § 39-20-3 in connection with electric generating facilities or portions thereof located within this state or the product or service therefrom or securities issued in connection with the financing of the facilities or portions thereof;

(2) Shall be entitled to procure a certificate of authority under chapter 1.2 of title 7 to transact business; and

(3) Shall have within this state the powers set forth in § 39-20-3 in connection with electric generating facilities or portions thereof located within this state or the product or service therefrom or securities issued in connection with the financing of facilities or portions thereof.

(b) Nothing in this section shall be construed to authorize a foreign electric utility to sell electricity at wholesale or retail within this state unless:

(1) The sale is authorized under its charter or the general or special laws of this state other than by this chapter; or

(2) The sale constitutes a sale of capacity and related energy from a specifically identified electric generating facility within this state or a sale of economy, backup, or other energy therefrom. Nonregulated power producers shall not be subject to this subsection.

History of Section. (P.L. 1975, ch. 215, § 1; P.L. 1976, ch. 332, § 1; P.L. 1996, ch. 316, § 1; P.L. 2005, ch. 36, § 25; P.L. 2005, ch. 72, § 25.)