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§ 5.40.120 — Assignment

Riverside Municipal Code (Supp. No. 33: codified through Ordinance No. 7776, enacted June 23, 2026) · Riverside Municipal Code § 5.40.120

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5.40.120 - Assignment.

No vehicle for hire or animal-drawn vehicle permit issued under the terms of this chapter shall be sold, transferred, or assigned either by contract or operation of law without the express written permission of the Chief Financial Officer, and any such attempted assignment shall be sufficient cause for revocation thereof. No taxicab franchise issued under the terms of this chapter shall be sold, transferred, or assigned either by contract or operation of law without the express written permission of the City Council, and any such attempted assignment shall be sufficient cause for revocation thereof. A. If a vehicle for hire permit holder, animal-drawn vehicle permit holder, or taxicab franchisee desires to sell, transfer, or assign its permit or franchise, the holder shall submit an application for such consent in the form requested by the Chief Financial Officer. The holder shall submit such documents and information that the Chief Financial Officer may reasonably need for its consideration of the application. The Chief Financial Officer may suspend the existing vehicle for hire permit, animal-drawn vehicle permit, or taxicab franchise or allow the permit holder or franchisee to continue its operation pending approval of the application. If the application for a vehicle for hire permit or animal-drawn vehicle permit satisfies all requirements, the Chief Financial Officer shall issue a permit for a period of three years, subject to the filing and approval of proof of insurance coverage as provided in Section 5.40.100 and subject to the requirements of this chapter. B. If the Chief Financial Officer determines that the public interest, convenience, and necessity require the sale, transfer, or assignment of a taxicab franchise, the Chief Financial Officer shall refer the matter to the City Council to be processed in accordance with the City of Riverside Charter within 60 days unless otherwise extended for good cause by the Chief Financial Officer.

(Ord. 7014 § 1, 2008)