All certificates shall be non-transferable. If a telephone line or system is to be sold, transferred, or leased to another person, said person shall apply to the Commission for a certificate and upon the issue of a certificate to the new owner, operator or lessee, the former certificate issued for the same territory, area, line or system shall be surrendered to the Commission for cancellation. This shall not apply in cases of lease or transfer of ownership of individual or group of circuits between American Telephone and Telegraph Company and Southern Bell Telephone and Telegraph Company on a toll line or route for which a certificate is held by either company.
Ga. Comp. R. & Regs. R. 515-6-1-.14
Ga. L. 1878-79, p. 125; 1907, pp. 72, 75; 1922, pp. 143, 144; 1950, p. 311; 1964, p. 338; 1965, p. 283; 1975, Sec. 2, p. 406.