(220 ILCS 5/7-201)
(from Ch. 111 2/3, par. 7-201)
No franchise, license, permit or right to own, operate, manage or
control any public utility, except common carriers engaged in interstate
commerce and except telegraph or telephone companies engaged in interstate
commerce, and except other public utility companies owning or operating a
public utility system situated partly in Illinois and partly in an
adjoining State or States, shall be hereafter granted or transferred to any
grantee or transferee other than a corporation duly incorporated under the
laws of this State.
No public utility shall be in any manner exempt from the provisions of
this Act because or by virtue of the fact that it may be or may have been
incorporated or organized under the laws of another State, or of the United
States, or of a foreign country, except to the extent expressly provided herein.
(Source: P.A. 84-617.)