§ 365.405 Reporting requirement.

(a) ProceduralEvery requirements.transfer (1) At least 10 days before consummation, an original and two copies of aoperating properlyauthority completedfrom Formone OP-FC-1person andto anyanother attachmentsperson (see paragraph (b)(1)(viii) of this section) must be filedreported withby theboth Federal Motor Carrier Safety Administration, IT Operations Division (MC-RIO), 1200 New Jersey Ave., SE., Washington, DC 20590-0001.
(2) At any time after the expiration of the 10-day waiting period, applicants may consummate the transaction, subject to the subsequent approval of the application by the FMCSA, as described below. The transferee mayand commence operations under the rights acquired from the transferor uponusing its compliance with the FMCSA'sURS regulationsonline governing insuranceapplication, andForm process agents. See 49 CFR parts 387MCSA-1, subpart(available C,at and 366, respectivelyhttp://www. In the alternative, applicants may wait until the FMCSA has issued a decision on their application before transferring the operating rightsfmcsa.dot.gov/urs) If the transferee wants the transferor's operating authority to be reissued in itsaccordance name, it should furnish the FMCSA with a§ statement executed by both transferor and transferee indicating that the transaction has been consummated390.201(d)(5) Authorityof willthis not be reissued until after the FMCSA has approved the transactionsubchapter.
(b) InformationThe required.following (1)information In category 1 and category 2 transfers, applicants must furnishbe the following informationfurnished:
(i1) Full name, address, and signaturesUSDOT Numbers of the transferee and transferor.
(ii2) A copy of the transferor's operating authority involved in the transfer proceeding.
(iii) A short summary of the essential terms of the transaction.
(iv) If relevant, the status of proceedings for the transfer of State certificate(s) corresponding to the Certificates of Registration being transferred.
(v)Effective ADate statement as to whether the transfer will or will not significantly affect the quality of the human environment.
(vi) Certification by transferor and transferee of their current respective safety ratings by the United States Department of Transportation (i.e., satisfactory, conditional, unsatisfactory, or unrated).
(vii) Certification by the transferee that it has sufficient insurance coverage under 49 U.S.C. 13906 for the service it intends to provide.
(viii) Information to demonstrate that the proposed transaction is consistent with the national transportation policy and satisfies the criteria for approval set forth at § 365.409 of this part. (Such information may be appended to the application form and, if provided, would be embraced by the oath and verification contained on that form.)
(ix) If motor carrier operating rights are being transferred, certification by the transferee that it is not domiciled in Mexico nor owned or controlled by persons of that country.
(2) Category 2 applicants must also submit the following additional informationNote:
(i)At Name(s)88 of the carrier(s), if any, with which the transferee is affiliated.
(ii) Aggregate revenues of the transferor, transferee, and their carrier affiliates from interstate transportation sources for a 1-year period ending not earlier than 6 months before the date of the agreement of the parties concerning the transaction. If revenues exceed $2 million, the transfer may be subject to 49 U.S.C. 14303 rather than these rules.
[53 FR 485280179, FebNov. 1817, 19882023, as§ amended at 54 FR 35343, Aug365.405 25,was 1989;suspended 62 FR 49940indefinitely, Sept.effective 24, 1997; 67 FR 61821, OctNov. 217, 2002; 68 FR 56198, Sept2023. 30, 2003; 72 FR 55699, Oct. 1, 2007]