California Public Utilities Code

§ 3454

PUC § 3454 Effective Jan 1, 2021Div. 1.7 · Part 5

Statute text

The acquisition of Pacific Gas and Electric Company by Golden State Energy, for any reason including pursuant to Section 713, shall not be subject to Sections 851 to 854, inclusive, if Golden State Energy, or its subsidiary, as part of such acquisition, agrees to do all of the following:

(a)Assume, take assignment of, and be bound by all collective bargaining agreements and related obligations, including pension and benefit agreements, then in effect that cover the business being acquired.

(b)Assume any obligations for funding under pension plans then in effect.

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Legislative history

Added by Stats. 2020, Ch. 27, Sec. 12. (SB 350) Effective January 1, 2021.