§ 111.03  CERTIFICATE OF CONVENIENCE AND NECESSITY.
   (A)   No person may conduct the business of operating motor vehicles carrying passengers for hire and no person may operate a motor vehicle carrying passengers for hire, unless all vehicles so operated are covered by a valid certificate of convenience and necessity issued pursuant to this section.
   (B)   An applicant for a certificate of convenience and necessity shall submit to the Taxicab Administrator, on forms prescribed by the town, information deemed reasonably necessary by the Administrator to determine whether the certificate should be issued in accordance with the criteria set forth in this section. All such information shall be accurate, to the best of the applicant’s knowledge.
   (C)   A certificate of convenience and necessity issued under this section shall cover the number of vehicles set forth in the application. Vehicles may be replaced, but additional vehicles may be operated only by obtaining a new or amended certificate.
   (D)   A certificate issued under this section is not transferable, and any change in the persons having a beneficial interest in the business voids the certificate. In the event of a projected change of beneficial ownership, an applicant may make an application pursuant to the provisions of this section containing all necessary information concerning such changes prior to the actual change of ownership. Such application shall include documentation of the projected change of ownership such as an option or contract to purchase. No certificate shall be issued until after any change in beneficial ownership has been completed.
   (E)   A certificate may not be issued until the applicant has presented sufficient proof of financial responsibility (i.e., a certificate of liability insurance) as required by G.S. § 20-280.
   (F)   The Administrator shall issue a certificate of convenience and necessity upon finding that:
      (1)   The public convenience and necessity requires the provision of the proposed service;
      (2)   The applicant is otherwise in compliance with this section; and
      (3)   Any person having a beneficial interest in the applicant’s business has not, within five years immediately preceding the date of the application for the certificate, been convicted of any felony or any crime relating to prostitution, the illegal sale of intoxicating liquors or controlled substances or any violation of this chapter.
   (G)   If a certificate is denied, the Taxicab Administrator shall inform the applicant in writing of the denial and the reasons therefor.
   (H)   No person shall be granted a certificate without first furnishing proof of a commercial policy of liability and property damage insurance with a company duly authorized to do business in the state in an amount not less than that required by G.S. § 20-280 for each taxicab operated. Commercial insurance in the above amounts shall be maintained in effect during the entire term of the certificate.
   (I)   Certificates issued pursuant to an initial application shall expire on the December 31 following the second anniversary of the issuance of the certificate. All renewal certificates shall expire on the second anniversary of the expiration of the previous certificate.
   (J)   Upon application to the town prior to such expiration, the Administrator shall renew the certificate; provided that, the applicant meets all of the requirements for the initial issuance of such a certificate.
   (K)   A certificate issued under this section may be revoked by the Taxicab Administrator for:
      (1)   Any reason that would have justified denial of the certificate;
      (2)   Any violation of the other provisions of this division (K);
      (3)   Failure to operate any motor vehicle for which a certificate has been issued for a period of 30 days without having obtained permission for cessation of such operation from the Administrator;
      (4)   The existence of any factor deemed sufficient grounds for revocation pursuant to G.S. § 160A-304; or
      (5)   Any other reason that the Administrator deems warrants suspension or revocation. Before revocation, the Administrator shall notify the holder of the certificate of its intent to revoke the certificate and the reasons therefor and shall afford such person a reasonable opportunity to appear and be heard before the Code Administrator on the question of such revocation. After a hearing, the Code Administrator shall notify the permit holder in writing of his or her decision and the reasons therefor. The decision of the Code Administrator shall be final.