N.J. Admin. Code § 16:54-4.2

Current through Register Vol. 56, No. 21, November 4, 2024

Section 16:54-4.2 - Transfers

(a) Aeronautical facility licenses may be transferred to the new owner under the following conditions:

1. The licensee shall submit a written request to the Bureau, which includes a letter of intent to transfer ownership or control, and must receive Bureau approval before proceeding with the transfer. The licensee shall submit a copy of that request, including a copy of the letter of intent, to the appropriate governing body.

2. The new owner shall, within 30 days of the transfer of ownership or control, submit to the Bureau, a signed Form DA-2, Aeronautical Facility Agreement, and proof of legal transfer of ownership or control of the facility.

(b) Upon receipt of the documents required by (a) above, the Bureau may issue an amended license in the name of the new owner.

(c) Failure to comply with the provisions of this section will result in suspension of the facility license.

N.J. Admin. Code § 16:54-4.2

Amended by 48 N.J.R. 1684(a), effective 8/15/2016