§ 25-2-109. FORECLOSURE.

Latest version.

(a)

Duty to provide notice of foreclosure. The franchisee immediately shall notify the County Council if the franchisee:

(1)

Is under threat of foreclosure or judicial sale of all or a substantial part of the franchisee's cable system; or

(2)

Receives notification of the termination of a lease covering all or a substantial part of the cable system.

(b)

Change of ownership. The County Council shall:

(1)

Treat notification by the franchisee under subsection (a) of this section as a potential change in control of the franchise; and

(2)

Apply the provisions for transferring a franchise under § 25-2-104 of this title if a foreclosure, judicial sale, or termination of a lease covering all or a substantial part of the cable system occurs.

(1988 Code, § 8-21) (Bill No. 134-97, §§ 1, 2, 12-5-1997; Bill No. 31-03, § 2, 7-1-2004)

                    
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