N.J.S.A. 48:3-20.1 — Franchise not to lapse on death of holder; transfer by estate with consent of board

48:3-20.1. Franchise not to lapse on death of holder; transfer by estate with consent of board No franchise, privilege, authority or consent to operate a public utility, lawfully granted or given by the State or by any political subdivision thereof, to any natural person individually, or as co-partner with other person or persons, shall lapse or become void by reason of the death of any such person but in any such event the same shall vest in and become the property, of the estate of the deceased person or of such estate and the surviving partner or partners and shall be transferable as assets of such estate or of such estate and said surviving partner or partners, with the consent of the board. L.1962, c. 198, s. 46.

This is the verbatim text of N.J.S.A. 48:3-20.1, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.