46.2-2011.8 - Transfers and leases of licenses or certificates. - Virginia Statutes

§ 46.2-2011.8. Transfers and leases of licenses or certificates.

Any license or certificate issued under this chapter may be transferred orleased, subject to the approval of the Department, and under such reasonablerules and regulations as may be prescribed by the Department. An applicationfor such approval shall be made jointly by the transferor and transferee, orlessor or lessee. The transfer or lease of a license or certificate can onlybe made upon a satisfactory showing that such purchaser, transferee, orlessee can and will comply with the applicable motor carrier or broker laws,rules and regulations of the Department, is fit, willing and able to properlyperform the services, and all taxes due the Commonwealth have been paid, orpayment guaranteed.

(2001, c. 596.)