§ 122. Continuance of business by receiver or other representative.
If a corporation or copartnership holding any license or holding a
permit for which an annual fee of one hundred dollars or more is
prescribed by this chapter shall be dissolved, or if a receiver or
assignee for the benefit of creditors be appointed therefor, or if a
receiver, assignee for the benefit of creditors or a committee or
conservator of the property of an individual holding any license or
holding a permit for which an annual fee of one hundred dollars or more
is prescribed by this chapter be appointed, during the time for which
such license or permit was granted, or if a person, including a member
of a copartnership, holding any license or holding a permit for which an
annual fee of one hundred dollars or more is prescribed by this chapter
shall die during the term for which such license or permit was given,
such corporation, copartnership, receiver or assignee, or the
administrator or executor of the estate of such individual, or of such
deceased member of a copartnership, or a committee of the property of a
person adjudged to be incompetent, or a conservator of the property of
an individual, or a petition under title eleven of the United States
code shall have been filed and a trustee has been appointed or the
holder of the license of permit has been permitted to remain in
possession without the appointment of a trustee, may continue to carry
on such business upon such premises for the balance of the term for
which such license or permit was effective, with the same rights and
subject to the same restrictions and liabilities as if he had been the
original applicant for and the original holder, or one of either of
them, of such license or permit, providing the approval of the liquor
authority shall be first obtained. Before continuing such business, such
receiver, assignee, individual, committee, or conservator, debtor in
possession, or trustee in bankruptcy shall file a statement setting
forth in such form and substance as the liquor authority may prescribe
the facts and circumstances by which he has succeeded to the rights of
the original licensee or permittee. The liquor authority may, in its
discretion, permit the continuance of such business or may refuse to do
so. In the event that the authority determines to permit the continuance
of the business, the license or permit shall be submitted to the
authority and shall have affixed thereto a certificate in the form
prescribed by the authority. For each such certificate a fee shall be
paid to the liquor authority of fifty dollars by the applicant, except
in the case of an off-premise beer license, such fee shall be ten
dollars which shall be paid into the same fund as other license fees
herein provided for.