CODE OF VIRGINIA

TRANSFER OR LEASE OF CERTIFICATE (§ 5.1-114)

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: Code 1950, § 56-168; 1970, c. 708.