§ 66.0120 — Transfer of Franchise

§66.0120 Transfer of Franchise

(a) Any franchise granted pursuant to this division is a privilege to be held in trust by the original franchisee. A franchise issued under this division shall not be transferred, sold, leased, assigned, relinquished, or delegated to another person, either in whole or in part, whether by forced sale, merger, consolidation, bankruptcy, reorganization under bankruptcy laws or otherwise, without the prior approval of the Council which shall not be unreasonably withheld. This restriction includes the transfer of ownership of the franchise, or a majority of the ownership or control of the franchisee, or the conveyance of a majority of the franchisee’s stock to a new controlling interest. Franchises shall become void upon the abandonment of same by franchisee. (b) Franchises shall become void upon the abandonment of the same by franchisee. (c) Notwithstanding section 66.0120, a Class I Franchise shall not be transferred to a Class II Franchisee without the proper approval of Council which shall not be unreasonably withheld and providing that such transfer does not unreasonably impact competition or further consolidate the market share of commercial waste collected by the Class II Franchisee.

(Amended 9-18-2000 by O-18848 N.S.)