[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR20.59]

[Page 441]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--BUREAU OF ALCOHOL, TOBACCO AND FIREARMS, DEPARTMENT OF THE 
                                TREASURY
 
PART 20--DISTRIBUTION AND USE OF DENATURED ALCOHOL AND RUM--Table of Contents
 
              Subpart D--Qualification of Dealers and Users
 
Sec. 20.59  Continuing partnerships.

    (a) General. If, under the laws of a particular State, a partnership 
is not teminated on death or insolvency of a partner, but continues 
until final settlement of the partnership affairs is completed, and the 
surviving partner has the exclusive right to the control and possession 
of the partnership assets for the purpose of liquidation and settlement, 
the surviving partner may continue to withdraw and use specially 
denatured spirits under the prior qualifications of the partnership.
    (b) Bonds. If a bond was required under the previous partnership, 
the surviving partner shall furnish a consent of surety, in which the 
surety and surviving partner agree to remain liable.
    (c) Requalification. If a surviving partner acquires the business on 
completion of the settlement of the partnership, that partner shall 
qualify as a new proprietor, from the date of acquisition, under the 
same conditions and limitations prescribed in Sec. 20.57(c).
    (d) More than one partner. The rule set forth in this section also 
applies if there is more than one surviving partner.

[T.D. ATF-199, 50 FR 9162, Mar. 6, 1985; 50 FR 20099, May 14, 1985]