(1) Leasing of Montana Public Service Commission operating certificates of public convenience and necessity or certificates of compliance may be authorized as required by 69-12-326, MCA.

(2) All leases of certificates shall be in writing. The leases shall be submitted to the commission for approval and shall not have any force or effect until approved by the commission.

(3) In the event a certificate lease is cancelled for any cause whatever or is terminated by expiration in accordance with the terms of the certificate lease, notice of such cancellation or expiration shall be given immediately to the commission in writing.