A certificate is not transferable without the consent of the City Council. Applications for a permit to transfer shall be filed in the same manner as an application for a certificate of convenience and necessity. The proceedings upon the application for a transfer shall be the same as those described for the issuance of a certificate, except that the question of public convenience and necessity need not be proved. In the event the franchise has been issued to a corporation, any change in the ownership of the stock shall be approved by the Council.
(‘58 Code, § 18-9) (Am. Ord. 22-01, passed 1-3- 22) Penalty, see § 10.99