Re-using a mod chip

Hello, all!

My model 2 (moded) Saturn is dying and I want to buy a new one and use the mod-chip from my dying Sat on this new one. Is it possible to take an installed mod-chip off a Saturn and use it again in another Saturn?
Thats what I had to do when someone (who was rather gerthy) stepped on my saturn and broke it. I then got a V-Saturn and tossed my old mod in that one and it worked like a charm