Any permit sold at public auction may be assigned upon written approval of the commissioner. The assignment of any permit shall be signed and acknowledged by the permit holder. The commissioner shall not approve any assignment until the assignee has been determined to meet the qualifications of a responsible bidder and has given to the state a security deposit which shall be substantially in the form of, and shall be deemed of the same effect as, the security deposit required of the original purchaser. The commissioner may accept an agreement of the assignee and any corporate surety upon an original bond, substituting the assignee in the place of the original purchaser and continuing the original bond in full force and effect, as to the assignee. Thereupon but not otherwise the permit holder making the assignment shall be released from all liability arising or accruing from actions taken after the assignment became effective.
History: (6394-19) 1925 c 276 s 19; 1961 c 202 s 16; 1969 c 366 s 4; 1986 c 444; 2013 c 114 art 4 s 50
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