Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 24. Transportation And Motor Vehicles
Agency 5. Virginia Aviation Board
Chapter 20. Regulations Governing the Licensing and Operation of Airports and Aircraft and Obstructions to Airspace in the Commonwealth of Virginia
10/24/2021

24VAC5-20-150. Transfer of licenses.

A. No license issued by the department for the operation of an airport or landing area may be transferred by the licensee without first obtaining the approval of the department.

B. Application for approval of a transfer of a license shall be made on the form prescribed by the department and accompanied by the required supporting documents as specified on the form. Approval may be granted only after satisfactory evidence has been submitted that shows the proposed transferee (i) is capable of operating the airport or landing area in accordance with the laws of this Commonwealth and these regulations and (ii) is financially responsible per Chapter 8.2 (§ 5.1-88.7 et seq.) of Title 5.1 of the Code of Virginia and has paid or guaranteed payment of all financial commitments due the Commonwealth under Chapter 1 (§ 5.1-1 et seq.) of Title 5.1 of the Code of Virginia or this chapter.

C. Before a transfer shall be made, the transferee by written agreement shall assume the unfulfilled obligation to the Commonwealth to operate the airport or landing area under any and all agreements executed by any prior licensee or licensees of such airport or landing area to procure state funds for the airport or landing area.

D. Upon conveyance, death, dissolution, or bankruptcy of a licensee, the department should be notified of the occurrence within 60 days, and the airport license may be transferred upon approval of the department.

Statutory Authority

§§ 5.1-2.2, 5.1-2.15, and 5.1-7 of the Code of Virginia.

Historical Notes

Derived from VR165-01-02:1 § 3.4, eff. September 9, 1992; amended, Virginia Register Volume 12, Issue 17, eff. June 12, 1996; Volume 30, Issue 4, eff. November 20, 2013.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.