§ 65-17 Bidding Requirements and Procedures.
RCNY § 65-17
(a)Bidder Criteria. Any person can bid. However, the highest Bidder must satisfy all criteria for Taxicab License owners. The Chairperson will review the application for a license by the highest bidder to determine if that bidder satisfies the ownership criteria.
(b)Application for Medallion License. The highest bidder must file an application for a Taxicab License with the Commission within three weeks from the auction date, unless the Chairperson extends the deadline for good cause.
(c)Denial of Application.
(1)If the highest bidder's application for a license is denied for any reason, the second-highest bidder will be awarded the sale on condition that the second-highest bidder's application for a Taxicab License is approved by the Chairperson.
(2)If neither the highest bidder's nor the second-highest bidder's application for a license is approved, the auction will be nullified.
