N.M. Stat. § 65-2A-14

Current through 2024, ch. 69

Section 65-2A-14 - Changes in certificates

A. A change in a certificate shall not be valid or effective without the approval of the department.

B. The department may, for good cause and after notice and public hearing requirements are met, authorize the following changes in all or part of a certificate at the request of the holder if the department finds:

(1) that the applicant for amendment, lease or transfer of a certificate for passenger service meets the requirements pursuant to Section 65-2A-8 NMSA 1978 for a certificate for such passenger service;

(2) that the applicant for amendment, lease or a transfer of a certificate for household goods service meets the requirements pursuant to Section 65-2A-9 NMSA 1978 for a certificate for such household goods service; and

(3) in addition, that:

(a) for transfer or lease of all or part of a certificate, the transferor-applicant has rendered reasonably continuous and adequate service in the territory to be transferred or leased prior to the application for lease or transfer; and

(b) for transfer of all or a part of a certificate, accrued taxes, rents, wages of employees and other indebtedness pertaining to all or part of a certificate proposed to be transferred have been paid by the transferor-applicant or assumed by the transferee-applicant.

C. The department may, without notice or a public hearing, authorize the following changes in all or part of a certificate at the request of the holder:

(1) voluntary cancellation of the certificate;

(2) voluntary suspension of the certificate for a period not to exceed twelve consecutive months;

(3) change in the form of legal entity or name of the holder of the certificate;

(4) reinstatement of the certificate following voluntary suspension of a period not exceeding twelve consecutive months;

(5) change in control of a holder of the certificate through issuance or transfer of stock or other legal interest in a holder that is a corporation, partnership, trust or other legal business entity; and

(6) matters pertaining to transfers by operation of law.

NMS § 65-2A-14

Laws 2003, ch. 359, § 14; 2013, ch. 73, § 13; 2013, ch. 77, § 13.

Amended by 2023, c. 100,s. 41, eff. 7/1/2024.

Amended by 2013, c. 77,s. 13, eff. 7/1/2013.

Amended by 2013, c. 73,s. 13, eff. 7/1/2013.