(625 ILCS 5/18c-4303) (from Ch. 95 1/2, par. 18c-4303)
Sec. 18c-4303.
Applications for Approval.
Applications for approval of
the transfer of a license shall be on forms
prescribed by the Commission and shall, where possible, be accompanied by a
copy of the written contract executed by parties to the proposed transfer.
The contract must state that it:
(1) Is expressly conditioned on approval of the transfer by the
Commission;
(2) Is a complete and exclusive statement of the rights of the
parties in regard to the proposed transfer; and
(3) Cannot be amended without notice to and approval by the
Commission.
The application shall also be accompanied by an abstract of
shipments performed by the transferor within the last year prior to
the date of the contract showing the date of each shipment, the
identification number of the shipment, the origin and destination
of the shipment, and a description of the commodity shipped.
The application shall not be docketed until a contract and abstract have
been filed. Where the contract cannot be signed because of some operation
of law, the Commission may waive the signature of the transferor, but not
the filing of the written contract.
(Source: P.A. 84-796.)
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