479.5 Certificate; transfer.
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479.5 Certificate; transfer.
Sec. 5.
Except as otherwise provided in this section, a certificate issued under this act is not a franchise and is not irrevocable, and shall not be assigned or otherwise transferred without the approval of the commission. Upon the death or bankruptcy of an individual holding a currently valid certificate, the commission shall authorize the transfer of the certificate to the legal representative of that individual upon due proof of his or her death or bankruptcy and upon due proof of the qualifications of the legal representative to act in the matter. This section does not abrogate the provisions of sections 10, 14 and 18 of this article, section 13 of article II, or section 11 of article III.
History: 1933, Act 254, Eff. Oct. 17, 1933 ;-- CL 1948, 479.5 ;-- Am. 1956, Act 164, Imd. Eff. Apr. 16, 1956 ;-- Am. 2014, Act 493 , Eff. Apr. 1, 2015