(1) When a river crossing proprietor owning or operating one (1) or more navigable water crossings in this state files with the Arkansas Public Service Commission a petition conforming to the requirements of § 23-3-504, the commission shall enter an order granting such rights to the navigable waterway and the bed thereof as will enable the river crossing proprietor to continue to own, operate, and maintain each navigable water crossing mentioned in the petition.
(2) The grant shall constitute approval and recognition of the legality of the navigable water crossing. However, the approval of a navigable water crossing by the commission shall not relieve the river crossing proprietor of its duty in the subsequent operation of the navigable water crossing to observe such reasonable safety precautions as may prevent conditions jeopardizing the public safety.