§ 19-513 Repossessions.
AC § 19-513
Any taxicab which is transferred involuntarily because of a default in the payment or installments due under the contract of sale, or any other contract or in any other manner whereby the license holder's interest in the license is not also transferred, and which is disposed according to law at public or private sale, may be operated by the purchaser thereof or his or her vendee, provided such purchaser or vendee is acceptable to the commission as a person suitable to receive a license. Upon such involuntary transfer, the license of said taxicab shall be cancelled immediately and a temporary, nontransferable, nonrenewable license issued to such purchaser or vendee for a period not exceeding one year upon the payment of a fee of not exceeding one hundred dollars therefor. At the end of such time, the original holder of the license, or his or her transferee if the license was first issued before the effective date of this chapter, shall be entitled to renewal of the license, provided that the provisions of subdivision (a) of section 19-512 of this chapter are complied with by such applicant, whether he or she is the original holder or a transferee.
