NAC706.389. Effect of cessation of operations.

Latest version.

1. Except as otherwise provided in subsection 2, an application for the transfer of operating rights will not be approved if there has been a cessation of operations by the transferor without the prior approval of the Authority even if the application was submitted before the operations ceased.

2. Approval may be obtained if the cessation of operations was caused by circumstances over which the holder of the operating rights had no control or the transfer would be in the public interest.

[Pub. Service Comm’n, Gen. Order 5 Rule 221, eff. 12-1-62]—(NAC A 9-1-87; A by Transportation Serv. Auth. by R071-98, 10-28-98; R040-02, 9-20-2002)

                    
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