(1) Organizations or reorganizations of all public utilities shall be subject to the supervision and control of the Arkansas Public Service Commission or the Arkansas Department of Transportation.
(2) No organization or reorganization shall be had or given effect without the written approval of the commission or the department.
(3) No plan of organization or reorganization shall be approved by the commission or the department unless it shall be established by the applicant for approval that the plan is consistent with the public interest.