WVC 24 A- 5 - 4
§24A-5-4. Merger, consolidation or joint ownership.
(a) It shall be lawful, under the conditions specified
below, but under no other conditions, for two or more motor
carriers to consolidate or merge their property, or any part
thereof, into one corporation for the ownership, management, and
operation of the properties theretofore owned, managed, and
operated separately; or for any such motor carrier or two or more
such carriers jointly, to purchase, lease or contract to operate
the properties, or any part thereof, of another such carrier; or
for any such motor carrier or two or more such carriers jointly,
to acquire control of another such carrier through purchase of
its stock; or for a person, not a motor carrier, to acquire
control of two or more motor carriers through ownership of their
stock; or for any person in control of one or more motor carriers
to acquire control of another such carrier through ownership of
its stock; or for a carrier by railroad, express, air, or water
to consolidate or merge with, purchase, or acquire control of,
any motor carrier, or lease or contract to operate its properties
or any part thereof.
(b) When a consolidation, merger, purchase, lease, operating
contract, or acquisition of control is proposed under this
section the carrier, or carriers, or person, seeking authority
therefor shall present an application to the commission and,
after hearing, if the commission deems a hearing necessary, if
the commission finds that the transaction proposed will be
consistent with the public interest, it shall enter such order as
it may deem proper and as the circumstances may require, attaching thereto such conditions as it may deem proper,
consenting to the entering into or doing of the things
hereinabove provided without approving the terms and conditions
thereof, and thereupon it shall be lawful to do the things
provided for in such order.
(c) Every consolidation, merger, purchase, lease, operating
contract, or acquisition of control, or other transaction
referred to in this section made otherwise than as hereinabove
provided, shall be void.
Note: WV Code updated with legislation passed through the 2014 1st Special Session
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