New Mexico Administrative Code
Title 18 - TRANSPORTATION AND HIGHWAYS
Chapter 3 - MOTOR CARRIER GENERAL PROVISIONS
Part 8 - CHANGES IN CERTIFICATES AND PERMITS
Section 18.3.8.8 - TRANSFER BY OPERATION OF LAW OF A CERTIFICATE OR PERMIT
Current through Register Vol. 35, No. 6, March 26, 2024
This section shall apply whenever the ownership of, or interest in, a certificate or permit passes to another by operation of law, as upon inheritance, bequest, order in bankruptcy or insolvency, execution sale, repossession upon default in performance of the terms of a loan, lease or executory sales contract, or otherwise than by voluntary transfer.
A. Notice. A transferee by operation of law shall file a notice of transfer by operation of law with the commission as provided in 18.3.1.11 NMAC. The personal representative, executor, administrator, receiver, trustee, sheriff or other representative or successor-in-interest of the owner of the operating authority shall sign the notice of transfer by operation of law. The notice of transfer by operation of law shall contain:
B. Which application appropriate.
C. Director decision. If the director finds that the transferee by operation of law meets the requirements of this section, the director shall promptly issue a certificate or permit in the name of the transferee by operation of law.