A.
A franchise shall be a privilege that is in the public
trust and personal to the original franchisee. A franchisee's obligations
under this franchise involve personal services whose performance involves
personal credit, trust and confidence in the franchisee, and transfer without
the prior written approval of the municipality shall be considered to impair
the municipality's assurance of due performance.
B.
No transfer (including but not limited to transfer by
forced or voluntary sale, merger, consolidation, receivership or any other
means) shall occur without prior written notice to and approval of the municipality,
and only then upon such reasonable terms and conditions as relate to the legal,
financial and technical qualifications of the transferee, as the municipality
deems necessary and proper, as provided for in a franchise agreement and subject
to federal law or regulation. The granting of approval for a transfer in one
instance shall not render unnecessary approval of any subsequent transfer.
Approval by the municipality of a transfer of a franchise does not constitute
a waiver or release of any of the rights of the municipality under this chapter
or a franchise agreement, whether arising before or after the date of the
transfer.
