Rhode Island General Laws Title 39. Public Utilities and Carriers § 39-14-25. Transfer of certificate

No certificate shall be sold or transferred until the administrator, upon written application setting forth the purposes, terms, and conditions of the sale or transfer, shall, after a hearing, approve the application. The application shall be accompanied by a fee of two hundred and fifty dollars ($250). All revenues received under this section shall be deposited as general revenues. A proposed transfer of a certificate shall be approved only if the administrator finds the transferee to be fit, willing, and able, financially and otherwise, to render the service described and authorized in the certificate; further, the administrator shall only reissue and transfer a certificate upon evidence that the transferor of the certificate has, during the six-month (6) period immediately prior to receipt of the transfer application, or during the six-month (6) period immediately preceding the filing of a petition for bankruptcy, whether voluntary or involuntary, or the institution of a petition for receivership, wherein the certificates are assets of the bankruptcy or receivership, been rendering the service authorized by the certificate.