§ 58-23-340 — Alienation or lease of certificates issued after July 1, 1983.

Notwithstanding custom or usage or any regulation, or other provision of law, it is unlawful for any person to sell, lease, or otherwise transfer a certificate of public convenience and necessity issued or authorized to be issued after July 1, 1983, under the provisions of Chapter 23 of Title 58 for money, goods, services, or any other thing of value. A certificate may be transferred incident to the sale or lease of property or assets owned or used by a regulated motor carrier, provided the approval of the commission for the transfer of the certificate is first obtained and that the certificate itself is not transferred for value or utilized to enhance the value of other property transferred. Nothing herein shall effect the sale, lease, or otherwise transfer of a certificate of public convenience and necessity issued prior to July 1, 1983.

Legislative History

HISTORY: 1983 Act No. 138 SECTION 19, eff June 15, 1983; 2006 Act No. 318, SECTION 145, eff May 24, 2006. ARTICLE 5 Annual Applications and License Fees