Pennsylvania Code
Title 52 - PUBLIC UTILITIES
Part II - Philadelphia Parking Authority
Subpart C - Limousines
Chapter 1059 - APPLICATIONS AND SALE OF RIGHTS
Section 1059.4 - Agreement of sale

Universal Citation: 52 PA Code ยง 1059.4

Current through Register Vol. 54, No. 44, November 2, 2024

(a) The parties to a proposed sale of transferable rights shall complete an agreement of sale detailing the terms of the transaction, including provisions required by this chapter, and file the agreement with the Director.

(b) An agreement of sale for transferable rights is void by operation of law if not executed by all parties in the presence of the Director or a designee.

(c) The term of an agreement of sale for transferable rights may not exceed 15 business days from the date of execution, except when executed on the date the application for sale of transferable rights is filed as provided in § 1059.5 (relating to application for sale of transferable rights).

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