40:48-2.39 - Licensed premises for retail sale of alcoholic beverages; purchase or condemnation; retirement of license - New Jersey Statutes

40:48-2.39.  Licensed premises for retail sale of alcoholic beverages; purchase or condemnation;  retirement of license
    In any case in which a municipality acquires by purchase or condemnation any  real estate within the municipality which includes any licensed premises for  the retail sale of alcoholic beverages, or upon application of the holder of  any such license in a municipality in which the number of retail consumption  licenses exceeds the limitation thereon provided for in P.L. 1947, chapter 94  (N.J.S.A. 33:1-12.14), the governing body of the municipality, whenever it  finds that a transfer of the license to, and the retirement of the license by,  the municipality is in the public interest, may contract with the licensee for  such transfer upon such terms and for such consideration as shall be mutually  agreeable and as the governing body shall deem to be reasonable.  Upon the  transfer of any retail alcoholic beverage license as herein provided, such  license shall thereupon be retired by the municipality and shall not thereafter  be reissued to any applicant.

     L.1966, c. 317, s. 1.  Amended by L.1967, c. 187, s. 1, eff. July 27, 1967.