1997 Minnesota Statutes

     221.081 Sale or lease of certificate. 

    Certificates authorizing operations as a regular route 
 common carrier or as a petroleum carrier may be sold or leased 
 but only upon order of the board approving the same.  The 
 proposed seller and buyer or lessor and lessee of a certificate 
 shall file a joint petition with the commissioner, setting forth 
 the names and addresses of the parties, the identifying number 
 of the certificate and the description of the authority which 
 the parties seek to sell or lease, a short statement of the 
 reasons for the proposed sale or lease, a short statement of the 
 buyer or lessee's present operating authority, if any, a 
 statement of all outstanding claims of creditors which are 
 directly attributable to the operations conducted under said 
 certificate, a copy of the contract of sale or lease and a 
 financial statement with balance sheet and income statement, if 
 existent, of the buyer.  If it appears to the board from the 
 contents of the petition and from the department's records, 
 files and investigation of the petition that the approval of the 
 sale or lease of the certificate will not adversely affect the 
 rights of the users of the service and will not have an adverse 
 effect on any other motor carrier, the board may make an ex 
 parte order granting the same.  When the proposed sale or lease 
 is between persons who are direct competitors to a material 
 degree, the petition shall be set down for hearing with notice 
 to the communities which may be affected by the proposed merger 
 and to any other persons the board or department deems to be 
 interested parties. 

    HIST: Ex1957 c 17 s 8; 1971 c 25 s 67; 1976 c 166 s 76; 1980 c 
 534 s 64; 1988 c 544 s 12