§ 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.
(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 presc
Free access — add to your briefcase to read the full text and ask questions with AI
§ 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.
(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.