The opinion of the court was delivered by CONFORD, S.J.A.D.
This is an appeal from the decision of the Director of the Division of Alcoholic Beverage Control affirming the denial by the Mayor and Council of the Borough of Oakland of an application for the transfer of an alcoholic beverage license. The denial was based upon the prohibition by N.J.S.A. 33:1-12.31 to 12.37 (L. 1962, c. 152) of the acquisition by any person of a "beneficial interest...
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