N.J. Admin. Code § 18:5-6.15

Current through Register Vol. 56, No. 17, September 3, 2024

Section 18:5-6.15 - Assignment or transfer of license

(a) Any license issued under the Act may be assigned or transferred under the following circumstances:

1. In the case of the death, bankruptcy, receivership, or incompetency of the licensee, or if for any other reason whatsoever, the business of the licensee shall devolve upon another by operation of law, the Director, may, in his or her discretion, extend the said license for a limited time to the executor, administrator, trustee, receiver, or person upon whom the license has devolved.

2. A purchaser or assignee of a licensed wholesaler or licensed distributor, or any other person upon whom the business of a licensed wholesaler or licensed distributor shall devolve by operation of law, shall, upon application to the Director, be entitled to an assignment or transfer of the wholesale or distributor license for the balance of the existing license period upon payment of a transfer fee of $5.00 and subject to qualification to be a licensed wholesaler or licensed distributor under the provisions of the Act.

3. The license issued for each vending machine for the sale of cigarettes may be transferred from machine to machine by the same owner.

N.J. Admin. Code § 18:5-6.15

Amended by 49 N.J.R. 1912(b), effective 7/3/2017