Virginia § 5.1-114 - Transfer or lease of certificate
Full text of Virginia Code of Virginia § 5.1-114 — Transfer or lease of certificate, with citation guidance and answers to common questions.
§ 5.1-114. Transfer or lease of certificate
Any certificate issued under this chapter may be transferred or leased, subject to the approval of the Commission and under such reasonable rules and regulations as may be prescribed by the Commission. An application for such approval shall be made jointly by the transferor and transferee, or lessor and lessee.
No certificate shall be transferred, leased or otherwise disposed of when any consideration is paid or promised which exceeds the then value of the tangible property sold in connection with the transfer or lease of such certificate.
Code 1950, § 56-168; 1970, c. 708.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 5.1-114
What does Code of Virginia § 5.1-114 cover?
Section 5.1-114 ("Transfer or lease of certificate") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 5.1-114?
A common citation format is "Code of Virginia § 5.1-114" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 5.1-114 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.