New Mexico Statutes 65-2A-14. Changes in certificates or permits
A. A change in a certificate or permit shall not be valid or effective without the approval of the commission.
Terms Used In New Mexico Statutes 65-2A-14
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
B. The commission may, for good cause and after notice and public hearing requirements are met, authorize the following changes in all or part of a certificate or permit at the request of the holder if the commission finds:
(1) that the applicant for amendment, lease or transfer of a certificate for passenger service meets the requirements pursuant to Section 65-2A-8 N.M. Stat. Ann. for a certificate for such passenger service;
(2) that the applicant for amendment, lease or a transfer of a certificate for household goods service meets the requirements pursuant to Section 65-2A-9 N.M. Stat. Ann. for a certificate for such household goods service;
(3) that the applicant for amendment, lease or a transfer of a permit meets the requirements pursuant to Section 65-2A-10 N.M. Stat. Ann. for such a permit; and
(4) in addition, that:
(a) for transfer or lease of all or part of a certificate or permit, the transferor- applicant has rendered reasonably continuous and adequate service in the territory to be transferred or leased prior to the application for lease or transfer; and
(b) for transfer of all or a part of a certificate or permit, accrued taxes, rents, wages of employees and other indebtedness pertaining to all or part of a certificate or permit proposed to be transferred have been paid by the transferor-applicant or assumed by the transferee-applicant.
C. The commission may, without notice or a public hearing, authorize the following changes in all or part of a certificate or permit at the request of the holder:
(1) voluntary cancellation of the certificate or permit;
(2) voluntary suspension of the certificate or permit for a period not to exceed twelve consecutive months;
(3) change in the form of legal entity or name of the holder of the certificate or permit;
(4) reinstatement of the certificate or permit following voluntary suspension of a period not exceeding twelve consecutive months;
(5) change in control of a holder of the certificate or permit through issuance or transfer of stock or other legal interest in a holder that is a corporation, partnership, trust or other legal business entity; and
(6) matters pertaining to transfers by operation of law.