32:23-23 - Duration of license; renewal - New Jersey Statutes

32:23-23.  Duration of license;  renewal
    A license granted pursuant to this article shall be for a term of two years  or fraction of such two-year period, and shall expire on the first day of  December of each odd numbered year.  In the event of the death of the licensee,  if a natural person, or its termination or dissolution by reason of the death  of a partner, if a partnership, or if the licensee shall cease to be a party to  any contract of the type required by subdivision (d) of section 3 of this  article, the license shall terminate ninety days after such event or upon its  expiration date, whichever shall be sooner.  A license may be renewed by the  commission for successive two-year periods upon fulfilling the same  requirements as are set forth in this article for an original application.

     L.1953, c. 202, p. 1525, Part I, s. 1, Art. VI, par. 5.