§ 341.655. Transfer of license—Person to person.  


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  • a) Taxicab licenses issued prior to October 1, 1995, under the provisions of this article may be transferred from person to person upon payment of a fee as specified in the License Fee Schedule, and completion of an application provided by the licensing official, and approval by the licensing official. In addition to the information and requirements prescribed by sections 341.500 and 341.580, each application for a transfer shall contain a sworn statement from the present licensee by which he or she consents to the proposed transfer. If the licensee is a partnership, all partners shall complete such statement and if a corporation, the statement shall be completed by an elected officer of the corporation. Such application shall be accompanied by true copies of any proposed or actual purchase agreement, bill of sale, promissory note, mortgage or other evidence of indebtedness which such applicant may incur or may have incurred as a result of the transfer. Such application shall also include a fiscal breakdown as to the cost of the vehicle(s), equipment, corporate stock, goodwill, contract rights and other intangibles included within the transfer. Among other things, the licensing official shall consider the reasonableness of the price the applicant shall have agreed to pay for a specified article or intangible. No value shall be attributed to the taxicab license to be transferred that is in excess of the proportion of the annual license fee remaining for the license year.

    (b)

    Whenever taxicab licenses issued on or after October 1, 1995 are held by a corporation and the record of equitable ownership of stock of any such corporation is transferred, sold, pledged or otherwise assigned to new or different stockholders or whenever new or different directors, officers or managers are elected or appointed by any corporation holding a license as herein defined, such changes shall require the filing of an application for license in the manner provided by this chapter except that this provision shall not apply where the corporation's stock is publicly traded on a stock exchange.

    (c)

    Failure to report any change in stockholders, officers or managers shall be grounds for the revocation of all licenses held by the corporation. The provisions of this section shall not apply to the issuance of any license to a corporation whose stock is traded on a public stock exchange.

    (d)

    Licenses issued after October 1, 1995, may not be transferred. Such licenses remain the property of the City of Minneapolis, and must be surrendered to the licensing official, upon cessation of operation in compliance with provisions of this chapter. (83-Or-081, § 2, 4-8-83; 86-Or-041, § 1, 3-14-86; 88-Or-004, § 32, 1-15-88; 88-Or-064, § 7, 4-15-88; Pet. No. 251179, § 239, 12-29-89; 90-Or-014, § 1, 1-26-90; 95-Or-128, § 9, 8-25-95; 2000-Or-010, § 17, 3-3-00; 2005-Or-093, § 8, 10-7-05; 2005-Or-129, § 9, 11-18-05; 2013-Or-213, § 32, 12-6-13; Ord. No. 2018-074 , § 40, 12-7-18)