33:1-12.36. Corporate licenses
127 words·~1 min read·
/nj/title-33/chapter-1/33-1-12-36·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Nothing in this act shall affect
(a)the right of any person having a beneficial interest in a retail license or licenses to hold or acquire an interest of not more than 10% of any corporation the shares of which are traded on a national securities exchange or regularly traded in an over-the-counter market by one or more members of a national or affiliated securities association or
(b)the right of any person to hold or acquire an interest in a corporation from his parent or grandparent provided such child or grandchild does not have a beneficial interest in any retail license or licenses other than those held by the corporation.
L.1962, c. 152, s. 6. Amended by L.1965, c. 197, s. 1, eff. Dec. 17, 1965.