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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 27 - Alcohol, Tobacco Products and Firearms |
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Chapter I - Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury |
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SubChapter M - Alcohol, Tobacco and Other Excise Taxes |
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Part 178 - COMMERCE IN FIREARMS AND AMMUNITION |
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Subpart D - Licenses |
§ 178.56 - Right of succession by certain persons.
Latest version.
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(a) Certain persons other than the licensee may secure the right to carry on the same firearms or ammunition business at the same address shown on, and for the remainder of the term of, a current license. Such persons are:
(1) The surviving spouse or child, or executor, administrator, or other legal representative of a deceased licensee; and
(2) A receiver or trustee in bankruptcy, or an assignee for benefit of creditors.
(b) In order to secure the right provided by this section, the person or persons continuing the business shall furnish the license for that business for endorsement of such succession to the Chief, National Licensing Center, within 30 days from the date on which the successor begins to carry on the business.