33 U.S.C. § 535e : US Code - Section 535E: Ownership

Search 33 U.S.C. § 535e : US Code - Section 535E: Ownership

(a) Sale, assignment, or transfer; Secretary of Transportation's
approval
Nothing in this subchapter shall be deemed to prevent the
individual, corporation, or other entity to which, pursuant to this
subchapter, authorization has been given to construct, operate, and
maintain an international bridge and the approaches thereto, from
selling, assigning, or transferring the rights, powers, and
privileges conferred by this subchapter: Provided, That such sale,
assignment, or transfer shall be subject to approval by the
Secretary of Transportation.
(b) State status of original applicant upon acquisition of right,
title, and interest after termination of private entity licenses,
contracts, or orders
Upon the acquisition by a State or States, or by a subdivision or
instrumentality thereof, of the right, title, and interest of a
private individual, corporation, or other private entity, and to an
international bridge, any license, contract, or order issued or
entered into by the Secretary of Transportation, to or with such
private individual, corporation, or other private entity, shall be
deemed terminated forthwith. Thereafter, the State, subdivision, or
instrumentality so acquiring shall operate and maintain such bridge
in the same manner as if it had been the original applicant, and
the provisions of section 535d (!1) of this title shall not apply.