(A) Grantor may revoke any franchise granted pursuant to this chapter and rescind all rights and privileges associated with it in the following circumstances, each of which shall represent a default by grantee and a material breach under the franchise:
(1) If grantee fails to perform any of its material obligations under this chapter or the franchise agreement and continues such failure to perform after receipt of due notice and a reasonable opportunity to cure;
(2) If grantee fails to provide or maintain in full force and effect the insurance coverage or security fund as required in the franchise agreement;
(3) If grantee violates any order or ruling of any regulatory body having jurisdiction over the grantee relative to the grantee's franchise, unless such order or ruling is being contested by grantee in good faith in an appropriate proceeding;
(4) If grantee knowingly practices any material fraud or deceit upon grantor; or
(5) If grantee becomes insolvent, unable or unwilling to pay its debts, or is adjudged a bankrupt.
(B) After completing the procedures set forth in § 114.111, the grantor may make a formal request before the Council that the grantee's franchise be revoked. The Council shall cause to be served on the grantee written notice of its intent to consider revoking grantee's franchise. Such notice shall be served on grantee at least 30 days prior to the date of the hearing on the issue. The notice shall contain the time and place of the hearing and shall be published at least once in a newspaper of general circulation within the franchise area ten days prior to the hearing date.
(C) The Council shall hear any person(s) interested in the revocation and within 90 days after the date of the hearing shall make its determination whether the grantee has committed a material breach of the franchise.
(D) If the grantor determines that the grantee has committed a material breach, then the grantor may:
(1) Declare the franchise revoked and any security fund and bonds forfeited; or
(2) If the material breach is curable by the grantee, direct the grantee to take appropriate remedial action within the time and manner and under the terms and conditions reasonably specified by the grantor.
(E) The termination and forfeiture of the grantee's franchise shall in no way affect any right of grantor to pursue any remedy under the franchise or any provision of law.
(Ord. 1048, passed 1-22-02)