Section 77-3-421 - Operations within same territory by second company following forfeiture of first company's charter

After the entry of an order forfeiting the charter of incorporation of any telephone or telegraph company, no telephone or telegraph company, whether operated by a person, co-partnership or corporation, shall have the authority to enter the same territory, or any part of it, served by the corporation whose charter has been forfeited, until a certificate of public convenience and necessity is granted by the public service commission, which certificate shall not be granted unless the commission affirmatively finds that the applicant therein is financially able to render telephone or telegraph service within such territory in a reasonably adequate manner. The application for a certificate of public convenience and necessity shall be in such form as the commission may require.Codes, 1942, § 7714; Laws, 1940, ch. 132.