Rhode Island General Laws 5-57-24. Transfer or assignment of licenses – Continuation of business upon owner’s death
(a) No license issued pursuant to the provisions of this chapter shall be assigned or transferred, either by operation of law or otherwise.
Terms Used In Rhode Island General Laws 5-57-24
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) If the license is held by an owner rather than a corporation and that owner dies, becomes disabled, or ceases to engage in the alarm business, the successor, heir, devisee, or personal representative of that owner, within thirty (30) days of the death, disablement, or termination of operation by the original licensee, shall apply for an alarm business license on a form prescribed by the licensing authority. This form shall include the same information required by § 5-57-15. The transferee shall be subject to the same requirements and procedures prescribed in § 5-57-16 — § 5-57-21 to the extent the sections are applicable. The new applicant may assume that the unexpired portion of the license will remain in effect until its expiration date. The applicant shall pay a pro-rated license fee established by the licensing authority to include that portion of the license that remains unexpired since its last date of issue or renewal.
(c) In the event that a sale, assignment, or transfer of an alarm business licensed under this chapter is consummated, then the purchaser, assignee, or transferee shall be subject to the same requirements and procedures prescribed in § 5-57-15 — § 5-57-21 to the extent those sections are applicable.
(d) With good cause, the licensing authority may extend the period of time for filing the application required by subsections (b) and (c) of this section.
History of Section.
P.L. 1977, ch. 248, § 1; P.L. 1978, ch. 119, § 1.