48:3-20.1 - Franchise not to lapse on death of holder; transfer by estate with consent of board - New Jersey Statutes

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.