Sec. 18c-4303. Applications for Approval.

187 words·~1 min read·/il/chapter-625/act-5/18c-4303

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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.