Effective 28 Aug 1986

390.111. Certificate or permit transferred to purchaser, assignee or consolidated company, when. — 1. In the event a motor carrier, to which a certificate or permit shall have been issued under the provisions of this chapter, shall sell, transfer, or assign the business, rights or assets of such motor carrier, or any part thereof, and such motor carrier and the purchaser thereof shall make proper application to the division in writing, containing such information as shall be prescribed by the division by general order with respect to the transfer of certificates or permits, the division shall transfer such original certificate or permit issued to such motor carrier, or the part so sold to such purchaser, if the division shall determine that the purchaser is in all respects qualified under the provisions of this chapter to conduct the business of a motor carrier within the meaning of the provisions of this chapter, and upon the transfer of such certificate or permit it shall be effective in like manner as though originally issued to such purchaser; provided, however, the division shall not be required to transfer from a certificate authorizing the transportation of general commodities or freight, any portion of such certificate authorizing the transportation of a part of such general commodities or freight over the same route or within the same territory, unless the division shall further determine, after hearing upon due notice, that such transfer is consistent with the public interest.

2. When there is a consolidation of one or more certificates as the result of a transfer of operating rights, and when the division shall find that any through service made possible thereby will be beneficial to the public, such through service may be authorized.

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(RSMo 1939 §§ 5724, 5727, A.L. 1951 p. 547 § 390.120, A.L. 1986 H.B. 1428)

Prior revision: 1929 § 5267

CROSS REFERENCE:

Division of motor carrier and railroad safety abolished, duties and functions transferred to highways and transportation commission and department of transportation, 226.008