[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: 27CFR478.55]

[Page 127]
 
            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. 478.55  Continuing partnerships.

    Where, under the laws of the particular State, the partnership is 
not terminated on death or insolvency of a partner, but continues until 
the winding up 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, 
such surviving partner may continue to operate the business under the 
license of the partnership. If such surviving partner acquires the 
business on completion of the settlement of the partnership, he shall 
obtain a license in his own name from the date of acquisition, as 
provided in Sec. 478.44. The rule set forth in this section shall also 
apply where there is more than one surviving partner.