38.3.2101 SALE OR TRANSFER OF CERTIFICATE OF AUTHORITY
(1) As authorized by 69-12-325, MCA, public service commission certificates may be sold or transferred. The application for sale or transfer shall be addressed to the commission, be sworn to, and contain the following information:
(a) the name and address of the owner and the number of the certificate, together with request that authority be granted such owner to sell or transfer all rights, title and interest under such certificate to the named vendee or purchaser.
(b) the name and main office address of the vendee or purchaser, that such vendee or purchaser is desirous of acquiring Certificate No. _____, that the operations to be conducted thereunder will be in accordance with the rules and regulations of the commission, and should the vendee or purchaser be a legal corporation, the officers of such corporation and their addresses.
(c) a list of equipment the vendee or purchaser intends to operate under such certificate, giving the state license number, year and name of the vehicle, the serial number, and seating capacity thereof; (In case the vehicles are to be used in transporting property, the maximum load to be carried must also be shown.)
(d) state that the vendee or purchaser will furnish before beginning operation, insurance, surety bond, or other approved security, covering all vehicles to be operated;
(e) if the vendee or purchaser desires to adopt the tariffs and time schedules, etc., of the vendor on file with the commission, it shall here so be stated and reference to each of such publications by number and effective date must be made; (Does not apply to class C carriers.)
(f) in case the vendee or purchaser does not desire to adopt the tariffs, time schedules, etc., of the vendor, it shall be so stated;
(g) in case the vendee or purchaser consists of more than one person (not incorporated) operating as a co-partnership under a trade name, then this item shall state that a certified copy of such partnership agreement is attached;
(h) shall set out the date on which it is desired that such sale or transfer shall become effective; no sale or transfer being retroactive, or effective until approved by the commission;
(i) shall state that the original certificate is attached, but if the original certificate issued by this commission has been lost, a statement showing the facts shall be inserted under this item or a separate affidavit reciting the loss of the certificate and accompanying the application;
(j) shall set forth that the sale or transfer is not for purpose of hindering, delaying or defrauding creditors;
(k) shall be accompanied by the vendee or purchaser's current financial balance sheet setting forth the assets, liabilities and equity of the transferee, if the purchaser is in motor carrier transportation business, then the vendee's or purchaser's current financial income statement setting forth operating revenues, operating expenses, and net operating income of the transferee if said transferee is presently in the motor carrier transportation business; and
(l) shall be signed by the owner and the purchaser and notarized.
(m) Forms for applications for sale or transfer are available on the commission's web site or upon request.
(2) It is required that full compliance and completion of sales and transfers be consummated within 30 days after the mailing of the notice of the commission's approval or suffer the revocation of such right to the certificate by the commission.
History: 69-12-201, MCA; IMP, 69-12-325, MCA; Eff. 12/31/72; AMD, 1984 MAR p. 1129, Eff. 8/17/84; AMD, 1990 MAR p. 1263, Eff. 6/29/90; AMD, 2000 MAR p. 1668, Eff. 6/30/00; AMD, 2015 MAR p. 1276, Eff. 8/28/15.