The grantee's right, title, or interest in the franchise shall not be sold, transferred,
assigned, or otherwise encumbered, other than to an entity controlling, controlled
by, or under common control with the grantee, nor shall there be any action resulting
in a change of working control of the grantee without the prior consent of the franchising
authority, such consent not to be unreasonably withheld. No such consent shall be
required, however, for a transfer in trust, by mortgage, by other hypothecation, or
by assignment of any rights, title, or interest of the grantee in the franchise or
cable system in order to secure indebtedness. Within 30 days of receiving the request
for transfer, the franchising authority shall, in accordance with FCC rules and regulations,
notify the grantee in writing of the information it requires to determine the legal,
financial and technical qualifications of the transferee. Consent by the franchising
authority shall be deemed given if franchising authority has not taken action on the
grantee's request for transfer within 120 days after such request under the Cable
Act as then currently amended.
(Prior Code, § 157.21)
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