Succession is the narrowest provision in this chapter and the one whose name promises most. It does not transfer a license — § 478.51 forbids that, and nothing here disturbs it. What it does is let certain persons other than the licensee secure the right to carry on the same firearms or ammunition business, at the same address shown on the license, for the remainder of that license’s term. Three limits are built into that single sentence: the same business, the same address, and only what is left of the term. It is a bridge to the end of the current license, not an inheritance.

Two groups may secure it. The first is the surviving spouse or child of a deceased licensee, or the executor, administrator, or other legal representative of one. The second is a receiver or trustee in bankruptcy, or an assignee for the benefit of creditors — which is why this provision sits as much in the insolvency world as the bereavement one. To secure the right, the person or persons continuing the business must furnish the license for endorsement of the succession to the Chief of the Federal Firearms Licensing Center within 30 days from the date the successor begins to carry on the business. That clock starts from carrying on the business, not from the death or the appointment, so a family that keeps the doors open while grieving has already started it.

One small provision removes an obvious worry, and it applies across this whole subchapter rather than only to succession. A licensee who furnishes their license to the Chief for correction or endorsement in compliance with this subpart may continue operations while awaiting its return. So the physical absence of the license — sent in for a correction under § 3.1, a trade name endorsement under § 3.2, or a succession endorsement here — does not close the business. Sending the license in is not the same as surrendering it.