Section 7. No person shall operate a motor vehicle under a license issued as aforesaid unless he has also obtained from the department a certificate declaring that public convenience and necessity require such operation. The department may, after public hearing, issue or refuse to issue such a certificate, or may issue the same for the partial exercise only of the privilege sought. Such certificate shall specify the route or routes over which the motor vehicles to be used thereunder may operate, and may prescribe the period during which the rights granted therein or in such license may be exercised, and may attach to the exercise of said rights such terms and conditions as the department shall deem that public convenience and necessity may require. The department, after notice and hearing, may revoke any such certificate for cause, and may, in like manner, revise any provisions thereof and any of the terms and conditions of such certificate or license. Upon such revocation, or upon the termination of the period covered by such certificate, the right of any person to operate thereunder shall immediately terminate. The department may adopt rules prescribing the manner and form in which applications for certificates or for any modification of outstanding certificates shall be made.
In the event of the decease, incompetency, insolvency, bankruptcy or corporate reorganization, under the bankruptcy law of the United States, of a holder of a certificate of public convenience and necessity, or charter license issued under section eleven A, the department, upon application of the assignee, trustee or personal representative, shall conditionally transfer such certificate or charter license to him pending decision by the department as to the fitness, willingness and ability of said transferee to conduct the operations or business authorized by said certificate or charter license. In the event of the decease, incompetency, insolvency or bankruptcy of a member of a partnership holding such certificate, the department, upon application of the surviving or remaining partners, or assignee, trustee, receiver or personal representative of the deceased, incompetent, insolvent or bankrupt partner, may make a like conditional transfer to the surviving or remaining partners.