Licensing
Challenge to medallion transfer sale waived.
Under Commission rule, a taxi medallion owner must notify potential tort claimants when the owner intends to transfer an interest in the medallion. The owner must post a bond or establish an escrow account if viable tort claims exceed insurance coverage. OATH has been designated to conduct a hearing when a claimant timely objects to the owners' proposed escrow amount.
Herrera v. Yiota Taxi, Inc., OATH Index No. 757/14, mem. dec. (Jan. 23, 2014).