§ 39-12-20 - Transfer of certificates or permits – Joint control of common carriers.
SECTION 39-12-20
§ 39-12-20 Transfer of certificates orpermits – Joint control of common carriers. – Any common carrier certificate or any contract carrier permit may be assignedand transferred, in whole or in part, by the holder thereof, his or herassignee, receiver, trustee, or by the holder's personal representative, or bythe surviving partner or partners of the deceased partner to which the rightsand privileges under the certificate or permit shall pass at the death of theholder, upon his or her application to the administrator. The transfer andassignment must receive the consent and approval of the administrator, afterpublic notice, in the manner provided in sections 39-12-6 and 39-12-9, and apublic hearing, at which the proposed transferee shall have established to thesatisfaction of the administrator his or her willingness, fitness, and abilityto perform or furnish transportation for compensation under the certificate orpermit. No certificate or permit may be transferred in part, unless the rightsare clearly severable; and no certificate or permit shall be transferred, inwhole or in part, except in connection with the bona fide sale to thetransferee of the business of the transferor. The application shall beaccompanied by a fee of two hundred and fifty dollars ($250). All revenuesreceived under this section shall be deposited as general revenues. It shall beunlawful for any person to accomplish or effectuate or to participate inaccomplishing or effectuating the control or management in a common interest ofany two (2) or more common carriers, however such a result is attained, whetherdirectly or indirectly, by use of common directors, officers, or stockholders,or in any manner whatsoever. As used in this section, the words "control andmanagement" shall be construed to include the power to exercise control andmanagement. The holder of either a common carrier certificate or a contractcarrier permit shall not acquire the operating rights held by another personthrough a transfer proceeding unless, both operating rights are mergedsimultaneously and not until the application to transfer is approved by theadministrator.