38. The person who ceases to qualify the holder of a licence must be replaced within sixty days. In the case of death, the delay for his replacement is extended to three months.
The holder of a licence may carry on its activities during such interval unless the board suspends the licence under another provision of this act.
In the case of death, the testamentary executor, the heirs or legatees, the administrator of the estate or the legal representative of the deceased, as the case may be, may carry on its activities for not more than three months from the date of death, unless the licence is suspended by the board under another provision of this act.