§ 177. Amendment, revocation and transfer of certificates and permits. 1. Certificates and permits shall be effective from the date specified therein, and shall remain in effect until terminated as herein provided. Any such certificate or permit may, upon application of the holder and in the discretion of the commissioner, be amended or revoked, in whole or in part, or may be suspended, cancelled, revoked or modified pursuant to section one hundred forty-five of this chapter.

2. Any certificate or permit may be suspended by the commissioner without hearing for failure to file or keep in force a tariff or a contract as required by sections one hundred seventy-nine and one hundred eighty of this article; for failure to comply with the insurance requirements of section one hundred thirty-nine of this chapter; for failure to file annual reports as required by the regulations of the commissioner; or for failure to adhere to the safety requirements of section one hundred forty of this chapter. Any such certificate or permit so suspended may thereafter be revoked in no less than thirty days after the date of suspension ordered by the commissioner without hearing if the carrier does not comply with the tariff, contract, insurance, annual reporting or safety requirements.

3. Certificates or permits shall not be assigned, transferred or leased in any manner nor shall the right to operate under any certificate or permit be leased without prior approval of the commissioner, upon such notice as the commissioner shall deem appropriate. The assignment, transfer or lease of a certificate, or the right to operate under any certificate, shall not be approved unless the commissioner shall find that it is in the public interest to do so. All applications for assignment, transfer or lease must be in such form as prescribed by the commissioner.