New Jersey Administrative Code
Title 16 - TRANSPORTATION
Chapter 54 - LICENSING OF AERONAUTICAL FACILITIES
Subchapter 4 - LICENSES
Section 16:54-4.2 - Transfers
Universal Citation: NJ Admin Code 16:54-4.2
Current through Register Vol. 56, No. 24, December 18, 2024
(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.
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