South Carolina Code of Regulations › Chapter 103 - PUBLIC SERVICE COMMISSION › Article 2 - MOTOR CARRIERS › Subarticle 4 - APPLICATION PROCEDURES FOR CERTIFICATES › Section 103-135 - Sale, Lease or Other Transfer of a Certificate of PC&N or FWA

Current through Register Vol. 48, No. 6, June 28, 2024
1. Application
				Required. Application for approval of sale, lease or other transfer of a
				Certificate of PC&N or FWA shall be filed with the commission and served on
				the ORS. The application forms shall be provided by the commission. No
				application is deemed filed until all the required information is completed and
				all the appropriate signatures obtained.
2. Application to Lease a Certificate of
				PC&N or FWA. If the application is for approval of a lease of a
				certificate, a copy of the proposed lease agreement must be filed with the
				application and must contain the entire agreement between the parties. Only one
				entity may operate at a time per certificate.
3. Application to Sell or Otherwise Transfer
				a Certificate of PC&N.
a. If the
				application is for approval of a sale or other transfer of a certificate, a
				copy of the proposed sales or other transfer agreement must be filed with the
				application and must contain the entire agreement between parties, including
				(1) an accurate description of the operating rights and other property to be
				transferred, and (2) the purchase price agreed upon and all the terms and
				conditions with respect to the payment of the same.
b. No sale or other transfer of a Certificate
				of PC&N shall be approved by the commission until the transferor (seller)
				has filed with the commission and served on the ORS a statement under oath
				showing (1) all assets of the holder of the certificate to be sold, (2) all
				debts and claims against the transferor (seller) of which such seller has any
				knowledge or notice, (3) wages due employees of the transferor (seller), (4)
				unremitted COD collections due shippers, (5) claims for loss of or damage to
				goods transported or received for transportation, (6) claims for overcharges on
				property transported, and (7) interline accounts due other carriers. There also
				shall be filed with the commission and served on the ORS a verified statement
				from the transferee (purchaser) or an authorized agent or officer thereof,
				guaranteeing the payment of all just obligations as listed in the sworn
				statement of the seller. This subsection shall not be applicable to sales by
				personal representatives of deceased or incompetent persons, receivers, or
				trustees in bankruptcy under court order.
c. Once a contract with a particular shipper
				is approved by the commission, that contract may be renewed periodically by
				merely filing two copies thereof with the commission and serving the same
				number of copies on ORS, provided, however, that in no event will the renewal
				contract alter in any way the commodities authorized to be hauled or the
				territory authorized to be served. Any alteration of contract terms or rates
				must also receive the specific approval of the commission which may or may not
				require notice.