(1) Leasing of Montana public service commission operating certificates of public convenience and necessity or permits may be authorized as required by 69-12-326, MCA.

(2) All leases of certificates of public convenience and necessity or permits shall be in writing. The leases shall be submitted to the commission for approval and shall not have any force or effect until approved by the commission.

(3) In the event a certificate or permit lease is cancelled for any cause whatever or is terminated by expiration in accordance with the terms of said certificate or permit lease, notice of such cancellation or expiration thereof shall be given immediately to the commission in writing.