[Code of Federal Regulations] [Title 27, Volume 2] [Revised as of April 1, 2003] From the U.S. Government Printing Office via GPO Access [CITE: 27CFR478.49] [Page 126] TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS CHAPTER II--BUREAU OF ALCOHOL, TOBACCO, FIREARMS, AND EXPLOSIVES, DEPARTMENT OF JUSTICE PART 478--COMMERCE IN FIREARMS AND AMMUNITION--Table of Contents Subpart D--Licenses Sec. 478.49 Duration of license. The license entitles the person to whom issued to engage in the business or activity specified on the license, within the limitations of the Act and the regulations contained in this part, for a three year period, unless terminated sooner. [T.D. ATF-270, 53 FR 10495, Mar. 31, 1988]