Virginia Code 46.2-2011.8: Transfers of certificates of public convenience and necessity.
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Any certificate of public convenience and necessity issued under this chapter may be transferred, subject to the approval of the Department, and under such reasonable rules and regulations as may be prescribed by the Department. An application for such approval shall be made jointly by the transferor and transferee. The transfer of a certificate of public convenience and necessity can only be made upon a satisfactory showing that such purchaser or transferee can and will comply with the applicable motor carrier or broker laws, rules and regulations of the Department, is fit, willing and able to properly perform the services, and all taxes due the Commonwealth have been paid, or payment guaranteed.
Terms Used In Virginia Code 46.2-2011.8
- Broker: means any person not included in the term "motor carrier" and not a bona fide employee or agent of any such carrier, who, as principal or agent, sells or offers for sale any transportation subject to this chapter except for transportation pursuant to Article 15 (§ Virginia Code 46.2-2000
- Certificate: means a certificate of public convenience and necessity or a certificate of fitness. See Virginia Code 46.2-2000
- Certificate of public convenience and necessity: means a certificate issued by the Department of Motor Vehicles to certain common carriers, but nothing contained in this chapter shall be construed to mean that the Department can issue any such certificate authorizing intracity transportation. See Virginia Code 46.2-2000
- Department: means the Department of Motor Vehicles. See Virginia Code 46.2-2000
- Motor carrier: means any person who undertakes, whether directly or by lease, to transport passengers for compensation over the highways of the Commonwealth. See Virginia Code 46.2-2000