Administrative Rules of Montana
Department 38 - PUBLIC SERVICE REGULATION
Chapter 38.3 - MOTOR CARRIERS
Subchapter 38.3.21 - Sale, Transfer or Encumbering of Certificate of Authority
Rule 38.3.2101 - SALE OR TRANSFER OF CERTIFICATE OF AUTHORITY
Universal Citation: MT Admin Rules 38.3.2101
Current through Register Vol. 6, March 22, 2024
(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;
(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.
AUTH: 69-12-201, MCA; IMP: 69-12-325, MCA
Disclaimer: These regulations may not be the most recent version. Montana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.