§ 195. Amendment, revocation and transfer of certificates and permits. 1. Certificates shall be effective from the date specified therein, and shall remain in effect until terminated as herein provided. Any such certificate may, upon application of the holder thereof 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 may be suspended by the commissioner without hearing for failure to keep in force a tariff as required by section one hundred ninety-seven of this chapter; 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 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, insurance, annual reporting or safety requirements.

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