17:12B-45 - Failure to open and operate relocated principal office; effect - New Jersey Statutes

17:12B-45.  Failure to open and operate relocated principal office; effect
    The failure of a State association to open and operate a relocated principal  office within 6 months after the commissioner approves the application  therefor, shall automatically terminate the right of the State association to  open such relocated principal office, except that, for good cause shown, the  commissioner may, in his discretion, on application of the State association,  extend for additional periods, not in excess of 6 months each, the time within  which such relocated principal office may be opened, provided that the initial  application shall be made before the expiration of 6 months from the date  authority is granted to relocate such principal office and any subsequent  application shall be made before the expiration of any subsequent period for  which permission to extend has been granted by the commissioner.

     L.1963, c. 144, s. 45.