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U.S. Code as of:
01/19/04
Section 547. Conditions of sale
(a) If a renewal of a franchise held by a cable operator is
denied and the franchising authority acquires ownership of the
cable system or effects a transfer of ownership of the system to
another person, any such acquisition or transfer shall be -
(1) at fair market value, determined on the basis of the cable
system valued as a going concern but with no value allocated to
the franchise itself, or
(2) in the case of any franchise existing on the effective date
of this subchapter, at a price determined in accordance with the
franchise if such franchise contains provisions applicable to
such an acquisition or transfer.
(b) If a franchise held by a cable operator is revoked for cause
and the franchising authority acquires ownership of the cable
system or effects a transfer of ownership of the system to another
person, any such acquisition or transfer shall be -
(1) at an equitable price, or
(2) in the case of any franchise existing on the effective date
of this subchapter, at a price determined in accordance with the
franchise if such franchise contains provisions applicable to
such an acquisition or transfer.
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