Sec. 380.606. - Franchise term and conditions.

(a) Term. Each franchise shall be granted subject to annual registration by the franchisee. Such annual registration shall include that information required by the City Department. Franchisees shall be subject to the annual registration, suspension and revocation provisions of this Part. Ninety days before the anniversary date of the franchise agreement, the franchisee shall submit to the City Department, on a form prescribed by it, the annual registration along with the registration fee as found in www.coj.net/fees . If a franchisee fails to submit a complete and accurate annual registration and/or fails to pay the registration fee, the franchise up for renewal shall be deemed suspended, precluding the registrant from performing under the franchise until the noncompliance is corrected. (b) Conditions. Each franchise shall be conditioned upon the faithful performance of all duties and requirements imposed by existing law, this Part, and rules established by the City Department. Every franchisee granted a franchise by the City pursuant to this Part shall comply with the terms and conditions of Chapter 380 . Franchises granted franchisees pursuant to this Section shall not be assigned, nor shall such franchises remain valid if the controlling stock, ownership or voting rights of any corporate franchisee are transferred or assigned, except with the express approval of the Council, which approval shall not be unreasonably withheld; provided, however, that the foregoing restrictions on stock transfer shall not apply to corporations whose common stock is traded on a nationally recognized stock exchange or is wholly owned, directly or indirectly by such entity, or that are institutional lenders. In the event of assignment, the assignee shall execute an agreement of acceptance, subject to the approval of the City, evidencing that such assignee accepts the assignment subject to any or all of the provisions of this Chapter and of the applicable franchise agreement, between the City and the franchisee and which acceptance shall include an affirmative statement evidencing such assignee's intent to fulfill the obligations imposed thereunder. (c) Bankruptcy or insolvency. If the franchisee becomes insolvent or if it files a petition of voluntary or involuntary bankruptcy, its franchise shall terminate no later than the date of filing of the bankruptcy petition. (d) Termination for alternative collection service. All nonexclusive franchises shall be subject to the right of the Council to terminate the nonexclusive franchise system and franchises granted under this Part. One hundred twenty days before proposing the termination of the franchise program established by this Part, the City Department shall notify all franchisees of the forthcoming legislative proposal. (Ord. 93-1774-1411, § 1; Ord. 2017-565-E , § 1; Ord. 2017-665-E , § 22)