Certificates of convenience and necessity issued pursuant to this act or amendments thereto shall not be assigned, leased or alienated in any way except with the consent of the Commission upon the petition of the holder of the certificate, and only then when the physical assets of the water transportation company or that part thereof covered by the certificate are assigned, leased or alienated to the same assignee to assign a certificate of convenience and necessity, the Commission shall cause the same to be set for hearing and give due and proper notice in writing at least ten (10) days prior to the date of the hearing to all persons who are served by the facilities covered by the certificate which is sought to be transferred, and by the publication once a week for two (2) consecutive weeks in a newspaper of general circulation in each county in which the line is located. If at such hearing the Commission finds from competent evidence that the transfer is in the best interest of the public convenience and necessity, it shall permit the certificate to be transferred.
Laws 1969, c. 109, § 8, emerg. eff. April 1, 1969.
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