Current through Register Vol. 54, No. 45, November 9, 2024
Section 27.6 - Transfer of rights(a)Sale or transfer of certificates. Except as otherwise provided in this chapter, no certificate or right thereunder may be sold or transferred by act, or deed, or by operation of law, unless the approval of the Commission be first had and obtained.(b)Death or incapacity of a certificate holder. Upon the death of a person to whom a certificate has been issued, or upon that person being legally declared insane or otherwise incompetent, the rights conferred by the certificate shall continue with the legal representative of the deceased or legally incompetent holder thereof for a period of 1 year, after which the rights conferred thereby shall terminate unless application has been made to transfer the rights to the heir, guardian, trustee, legatee or others, in which case the rights shall continue with the legal representative until the application is granted or refused. Provided, however, that in the event application is made by the legal representative not less than 30 days prior to the end of the period of 1 year, the Commission may, at its discretion, and for cause shown, permit the transfer of the rights to the executor, administrator, guardian, trustee or other legal representative of the deceased or legally incompetent holder for a period to be fixed by the Commission. In considering petitions, pertinent orders or decrees of the court having jurisdiction over the estate of the decedent or legally incompetent person may be deemed cause for the granting thereof.(c)Transfer of certificate without hearing. When the individual holder of a certificate dies or is legally declared insane or otherwise incompetent, and an application is made to transfer the rights granted under the certificate to his legal representative, or where the certificate holder is a partnership and the application for a transfer is in effect only to remove or substitute one or more of the partners, the Commission may dispose of the application with or without hearing, and after reasonable notice that the Commission may direct.(d)Successors by operation of law. If a trustee, receiver, assignee, custodian or similar officer, or officers, shall be appointed by a court of competent jurisdiction, or shall be selected by creditors in accordance with provisions of law, with authority to take or retain possession and to operate the property and business of a certificate holder, the officer shall have authority to perform the service authorized in the certificate of the debtor carrier for a period of 90 days from his appointment or selection. The officer may petition the Commission for authority to conduct the operations for an additional period of time, and the Commission may, for good cause shown, grant authority. If the petition is filed within 90 days of the appointment or selection of the petitioner, he shall have authority to continue the operations pending decisions by the Commission on the petition. In considering the petition, pertinent orders or decrees of the court having jurisdiction may be deemed cause for the granting hereof.(e)Limitations. Operations covered by subsections (b)-(d) shall be subject to the terms and conditions of the certificate of public convenience and this chapter.The provisions of this §27.6 adopted August 15, 1975, effective 8/16/1975, 5 Pa.B. 2131.