§ 39-12-20. Transfer of certificates or permits Joint control of common carriers.
Any common carrier certificate or any contract carrier permit may be assigned and transferred, in whole or in part, by the holder thereof, his or her assignee, receiver, trustee, or by the holder's personal representative, or by the surviving partner or partners of the deceased partner to which the rights and privileges under the certificate or permit shall pass at the death of the holder, upon his or her application to the administrator. The transfer and assignment must receive the consent and approval of the administrator, after public notice, in the manner provided in sections 39-12-6 and 39-12-9, and a public hearing, at which the proposed transferee shall have established to the satisfaction of the administrator his or her willingness, fitness, and ability to perform or furnish transportation for compensation under the certificate or permit. No certificate or permit may be transferred in part, unless the rights are clearly severable; and no certificate or permit shall be transferred, in whole or in part, except in connection with the bona fide sale to the transferee of the business of the transferor. The application shall be accompanied by a fee of two hundred and fifty dollars ($250). All revenues received under this section shall be deposited as general revenues. It shall be unlawful for any person to accomplish or effectuate or to participate in accomplishing or effectuating the control or management in a common interest of any two (2) or more common carriers, however such a result is attained, whether directly or indirectly, by use of common directors, officers, or stockholders, or in any manner whatsoever. As used in this section, the words "control and management" shall be construed to include the power to exercise control and management. The holder of either a common carrier certificate or a contract carrier permit shall not acquire the operating rights held by another person through a transfer proceeding unless, both operating rights are merged simultaneously and not until the application to transfer is approved by the administrator.
(P.L. 1935, ch. 2268, art. 5, § 1; G.L. 1938, ch. 99, art. 5, § 1; P.L. 1946, ch. 1805, § 1; G.L. 1956, § 39-12-26; G.L. 1956, § 39-12-20; P.L. 1958, ch. 87, § 1; P.L. 1967, ch. 209, § 3; P.L. 1980, ch. 339, § 1; P.L. 1992, ch. 133, art. 34, § 5; P.L. 1995, ch. 370, art. 40, § 118; P.L. 2007, ch. 73, art. 26, § 2; P.L. 2007, ch. 485, § 2.)