{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/5.1-114.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/5.1-114.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/5.1-114.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/5.1-114.html"}],"law_id":366513,"edition_id":2,"section_id":366513,"structure_id":52229,"section_number":"5.1-114","catch_line":"Transfer or lease of certificate","history":"Code 1950, \u00a7 56-168; 1970, c. 708.","full_text":"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.\n\nNo 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.\n\n","order_by":null,"text":{"0":{"id":1364765,"text":"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.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":""},"1":{"id":1364766,"text":"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.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":""}},"ancestry":[{"id":52229,"edition_id":2,"name":"Duration, Revocation, Transfer and Value of Certificates, Etc.; Penalties","identifier":"6","label":"article","depth":3,"order_by":6,"parent_id":52224,"metadata":{"child_laws":3,"child_structures":0},"date_created":"2026-08-02 02:56:18","date_modified":"2026-08-02 12:27:53","permalink":{"id":1461067,"object_type":"structure","relational_id":52229,"identifier":"6","token":"5.1\/9\/6","url":"\/5.1\/9\/6\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52224,"edition_id":2,"name":"Air Carriers","identifier":"9","label":"chapter","depth":2,"order_by":12,"parent_id":52221,"metadata":{"child_laws":61,"child_structures":9},"date_created":"2026-08-02 02:56:17","date_modified":"2026-08-02 12:27:52","permalink":{"id":1460967,"object_type":"structure","relational_id":52224,"identifier":"9","token":"5.1\/9","url":"\/5.1\/9\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52221,"edition_id":2,"name":"Aviation","identifier":"5.1","label":"title","depth":1,"order_by":9,"parent_id":null,"metadata":{"child_laws":218,"child_structures":28},"date_created":"2026-08-02 02:56:16","date_modified":"2026-08-02 12:27:49","permalink":{"id":1460301,"object_type":"structure","relational_id":52221,"identifier":"5.1","token":"5.1","url":"\/5.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":366512,"structure_id":52229,"section_number":"5.1-113","catch_line":"Duration of certificates, registrations, etc.; suspension, revocation, or amendment; penalties","url":"\/5.1-113\/","token":"5.1\/9\/6\/5.1-113","metadata":false},{"id":366513,"structure_id":52229,"section_number":"5.1-114","catch_line":"Transfer or lease of certificate","url":"\/5.1-114\/","token":"5.1\/9\/6\/5.1-114","metadata":false},{"id":366514,"structure_id":52229,"section_number":"5.1-115","catch_line":"No value allowed for certificates","url":"\/5.1-115\/","token":"5.1\/9\/6\/5.1-115","metadata":false}],"previous_section":{"id":366512,"structure_id":52229,"section_number":"5.1-113","catch_line":"Duration of certificates, registrations, etc.; suspension, revocation, or amendment; penalties","url":"\/5.1-113\/","token":"5.1\/9\/6\/5.1-113","metadata":false},"next_section":{"id":366514,"structure_id":52229,"section_number":"5.1-115","catch_line":"No value allowed for certificates","url":"\/5.1-115\/","token":"5.1\/9\/6\/5.1-115","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/5.1-114\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1970, chapter 708.<\/p>","references":false,"refers_to":false,"permalink":{"id":1461073,"object_type":"law","relational_id":366513,"identifier":"5.1-114","token":"5.1\/9\/6\/5.1-114","url":"\/5.1-114\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/5.1-114\/","token":"5.1\/9\/6\/5.1-114","dublin_core":{"Title":"Transfer or lease of certificate","Type":"Text","Format":"text\/html","Identifier":"\u00a7 5.1-114","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Any <span class=\"dictionary\">certificate<\/span> issued under this chapter may be transferred or leased, subject to the approval of the <span class=\"dictionary\">Commission<\/span> and under such reasonable rules and regulations as may be prescribed by the <span class=\"dictionary\">Commission<\/span>. An application for such approval shall be made jointly by the transferor and transferee, or lessor and lessee.<\/p><p>No <span class=\"dictionary\">certificate<\/span> 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 <span class=\"dictionary\">certificate<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nTRANSFER OR LEASE OF CERTIFICATE (\u00a7 5.1-114)\n\nAny certificate issued under this chapter may be transferred or leased, subject\nto the approval of the Commission and under such reasonable rules and\nregulations as may be prescribed by the Commission. An application for such\napproval shall be made jointly by the transferor and transferee, or lessor and\nlessee.\n\nNo certificate shall be transferred, leased or otherwise disposed of when any\nconsideration is paid or promised which exceeds the then value of the tangible\nproperty sold in connection with the transfer or lease of such certificate.\n\nHISTORY: Code 1950, \u00a7 56-168; 1970, c. 708.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}