The rights, privileges, and franchise granted hereunder may not be assigned, in whole or in part, without the prior consent of the County Council expressed by a resolution or ordinance and then only under conditions as may thereby be prescribed. No assignment to any person shall be effective until the assignee has filed with the county an instrument, duly executed, reciting the fact of the assignment, accepting the terms of this franchise, and agreeing to comply with all of the provisions hereof. No consent shall be required for a transfer:
(A) To a parent or subsidiary of a grantee;
(B) To a corporation whose stock is held by the same stockholders as the grantee;
(C) Of less than 20% of the voting securities of a corporate grantee unless the transfer also results in a transfer of voting control;
(D) Of stock from one present stockholder to another present stockholder unless the transfer also results in a transfer of voting control; or
(E) To a transfer that involved a reorganization or merger of interests with another entity for the purpose of securing financing and management assistance provided that the grantee and its principals retain an effective ownership interest in the reorganization or merged entity.
(Prior Code, § 92.27) (Ord. 966E, passed 2-22-1982; Ord. 1061A, passed 5-9-1989)