46.2-2123 - Transfer or lease of license or certificate. - Virginia Statutes

§ 46.2-2123. Transfer or lease of license or certificate.

Any certificate of public convenience and necessity issued under this chaptermay be transferred or leased, subject to the approval of the Department, andunder such reasonable rules and regulations as may be prescribed by theDepartment. An application for such approval shall be made jointly by thetransferor and transferee, or lessor or lessee. The transfer or lease of acertificate of public convenience and necessity can only be made upon asatisfactory showing that such purchaser, transferee, or lessee can and willcomply with the applicable motor carrier or broker laws, rules andregulations of the Department, is fit, willing and able to properly performthe services, and all taxes due the Commonwealth have been paid, or paymentguaranteed. The transfer provisions of this section shall also apply tolicenses.

(2001, c. 596.)