761.12 CERTIFICATE NOT TRANSFERABLE.

   A certificate of public convenience and necessity issued under this chapter is not transferable and may not be transferred by way of, but not limited to, a transfer by sale, lease, assignment, sublease, barter or gift of the certificate itself, or by a sale, lease, assignment, sublease, barter or gift of the assets or stock of an entity which holds a certificate unless and until written approval is obtained from the City Manager. In order to obtain approval, the transferee shall submit an application to the City Manager and it shall be treated as an application under Sections 761.08 through 761.11.

   Should a corporation cease doing business, a successor corporation to the defunct corporation shall secure a new certificate.

   There shall be no right to the transfer of a certificate as such certificate is issued based on a consideration of the totality of the circumstances at the time the certificate was issued or last amended.

(Ord. 92-8-66. Passed 8-12-92.)