[Code of Federal Regulations]
[Title 49, Volume 4]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR365.403]

[Page 828-829]
 
                        TITLE 49--TRANSPORTATION
 
                      DEPARTMENT OF TRANSPORTATION
 
PART 365_RULES GOVERNING APPLICATIONS FOR OPERATING AUTHORITY--Table of 
Contents
 
      Subpart D_Transfer of Operating Rights Under 49 U.S.C. 10926
 
Sec. 365.403  Definitions.

    For the purposes of this part, the following definitions apply:
    (a) Transfer. Transfers include all transactions (i.e., the sale or 
lease of

[[Page 829]]

interstate operating rights, \1\ or the merger of two or more carriers 
or a carrier into a noncarrier) subject to 49 U.S.C. 10926, as well as 
the sale of property brokers' licenses under 49 U.S.C. 10321.
---------------------------------------------------------------------------

    \1\ The execution of a chattel mortgage, deed of trust, or other 
similar document does not constitute a transfer or require the FMCSA's 
approval. However, a foreclosure for the purpose of transferring an 
operating right to satisfy a judgment or claim against the record holder 
may not be effected without approval of the FMCSA.
---------------------------------------------------------------------------

    (b) Operating rights. Operating rights include:
    (1) Certificates and permits issued to motor carriers;
    (2) Permits issued to freight forwarders;
    (3) Licenses issued to property brokers; and
    (4) Certificates of Registration issued to motor carriers. The term 
also includes authority held by virtue of the gateway elimination 
regulations published in the Federal Register as letter-notices.
    (c) Certificate of registration. The evidence of a motor carrier's 
right to engage in interstate or foreign commerce within a single State 
is established by a corresponding State certificate.
    (d) Person. An individual, partnership, corporation, company, 
association, or other form of business, or a trustee, receiver, 
assignee, or personal representative of any of these.
    (e) Record holder. The person shown on the records of the FMCSA as 
the legal owner of the operating rights.
    (f) Control. A relationship between persons that includes actual 
control, legal control, and the power to exercise control, through or by 
common directors, officers, stockholders, a voting trust, a holding or 
investment company, or any other means.
    (g) Category 1 transfers. Transactions in which the person to whom 
the operating rights would be transferred is not an FMCSA carrier and is 
not affiliated with any FMCSA carrier.
    (h) Category 2 transfers. Transactions in which the person to whom 
the operating rights would be transferred is an FMCSA carrier and/or is 
affiliated with an FMCSA carrier.

[53 FR 4852, Feb. 18, 1988, as amended at 67 FR 61821, Oct. 2, 2002]