TITLE 92: TRANSPORTATION
CHAPTER III: ILLINOIS COMMERCE COMMISSION
SUBCHAPTER a: COMMERCIAL TRANSPORTATION GENERALLY
PART 1270 TRANSFERS OF LICENSES
SECTION 1270.200 TRANSFERS NOT SUBJECT TO COMMISSION APPROVAL
Section 1270.200 Transfers Not Subject to Commission Approval
a) If a merger, acquisition of control, or other transaction which is authorized pursuant to 49 U.S.C. 11343 involves one or more motor carriers of property licensed by the Commission, such transaction shall be recognized by the Commission subject to the provisions of subsection (b) of this Section.
b) No license transferred by operation of 49 U.S.C. 11343 shall be effective for any purpose unless and until the person to whom the license is being transferred notifies the Commission of such transfer. Notification shall be accomplished by completing and filing the forms obtained from the Commission for such purpose, along with a filing fee, established for applications to transfer licenses at 92 Ill. Adm. Code 1205.10(a)(3)(A).
(Source: Added at 15 Ill. Reg. 10925, effective July 10, 1991)