§ 5.1-114 Transfer or lease of certificate
Any certificate issued under this chapter may be transferred or leased, subject to the approval of the Commission and under such reasonable rules and regulations as may be prescribed by the Commission. An application for such approval shall be made jointly by the transferor and transferee, or lessor and lessee.
No certificate shall be transferred, leased or otherwise disposed of when any consideration is paid or promised which exceeds the then value of the tangible property sold in connection with the transfer or lease of such certificate.
History
The record of this law’s original creation isn’t available online. The oldest record of it is its appearance in the Code of Virginia of 1950, as § 56-168. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 1970, chapter 708.
Code 1950, § 56-168; 1970, c. 708.