Section 1270.10  Procedures for Review of Expedited Transfer Applications

 

a)         Applications for expedited (non-hearing) transfer shall be granted or denied, based upon the information contained herein and without oral hearing.

 

b)         The application shall be set for hearing pursuant to 83 Ill. Adm. Code 200 if the application does not qualify for expedited transfer.

 

Section 1270.20  Transfers Involving Immediate Family

 

a)         Transfers to members of the transferor's "immediate family" shall be permitted without hearing only where the relationship between transferor and transferee is one of the following:

 

1)         Husband-wife;

 

2)         Parent-child (natural or legally adopted child); or

 

3)         Sibling-sibling.

 

b)         Other uses of the term "immediate family."  When used in relation to a transaction other than a transfer to a member(s) of the transferor's immediate family, the term "immediate family" includes the person's spouse, parents, children, and siblings.

 

Section 1270.30  Transfers from One Corporation to a Related Corporation

 

a)         No transfer shall be approved under Section 18c-4306(7) of the Illinois Commercial Transportation Law ("Law") (Ill. Rev. Stat. 1985, ch. 95½, par. 18c-4306(7)), if a shareholder of the transferee would acquire a majority or controlling interest unless the same shareholder possessed a majority or controlling interest in the transferor.

 

b)         No transfer shall be approved under Section 18c-4306(4) of the Law (Ill. Rev. Stat. 1985, ch. 95½, par. 18c-4306(4)) unless the transferor corporation is wholly owned by one person or members of one family.

 

Section 1270.40  Expedited Transfers Generally

 

Except as otherwise provided in this Subpart, expedited transfers are hereby provided for to the extent permitted under Section 18c-4306 of the Law.

 

Section 1270.50  Forms

 

Transfer applications shall be on the Illinois Commerce Commission's ("Commission") Transfer Application Form.

 

Section 1270.100  Authority of Fiduciary to Continue Operations

 

The following fiduciaries shall have authority to continue operations under a license or registration issued by the Commission, pending completion of transfer proceedings, in lieu of the person to which the license or registration was issued:

 

a)         Administrators and executors of the estates of deceased holders;

 

b)         Conservators or guardians of incompetent holders;

 

c)         Provisional directors or custodians of corporations appointed by a court pursuant to Section 12.55 of the Business Corporation Act of 1983 (Ill. Rev. Stat. 1985, ch. 32, par. 12.55); and

 

d)         Trustees, receivers, conservators, assignees, or other persons authorized by law to collect and preserve the property of financially disabled, bankrupt, deceased, or incapacitated holders.

 

Section 1270.110  Authority Does Not Extend to Transfers by Fiduciary

 

Authority under Section 1270.100 does not extend to transfers from fiduciaries to other persons or to operations by such other persons pending transfer from the fiduciaries.

 

Section 1270.120  Required Filings by Fiduciary

 

a)         Notice.  Within 30 days after assuming control, the fiduciary must give notice to the Commission:

 

1)         Identifying the person to whom the license or registration was issued by full legal name, trade name, and principal business address;

 

2)         Identifying the license or registration by number;

 

3)         Identifying the fiduciary by full legal name, trade name, and mailing address; and

 

4)         Stating the date on which the fiduciary assumed control.

 

b)         Proof of Fiduciary Capacity.  If control was assumed pursuant to a court order, a certified copy of the order must be attached.  If control was assumed other than by court order, an affidavit of fiduciary capacity must be submitted.

 

c)         Transfer Application.  The fiduciary shall file an application seeking Commission approval of a transfer of the license or registration, either to the fiduciary or to a transferee designated by the fiduciary.  If the fiduciary does not file a transfer application within 180 days after assuming control, the fiduciary must file a report with the Commission, not later than the first day of each succeeding month, explaining the failure to file and prosecute a transfer application.  Such factors as court delays, progress in an estate settlement, and legal action against the estate will be considered as justification for failure to file and process a transfer application.

 

d)         Proof of Insurance.  No operations may be conducted under authority of Section 1270.100 until the fiduciary has obtained and filed with the Commission proof of insurance coverage for such operations in compliance with Section 18c-4901 or Section 18c-6503 of the Law (Ill. Rev. Stat. 1985, ch. 95½, pars. 18c-4901 and 18c-6503).

 

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)