The company shall within 20 days after a franchise becomes effective, file in the office of the Town Clerk-Treasurer a written acceptance of the franchise ordinance. Failure on the part of the company to file such written acceptance within such time shall be deemed abandonment and rejection of the rights conferred hereby, and a franchise shall thereupon be null and void. Acceptance shall be unqualified and shall be construed to be an acceptance of all the terms, conditions and restrictions contained in a franchise.
(1991 Draft Code, § 4-107) (Ord. 2-1980, passed 3-24-1980)