7-1-56. Sale of or proceedings against security.
85 words·~1 min read·
/nm/chapter-7-taxation/article-1-administration/7-1-56A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If liability for any tax for the payment of which security has been furnished becomes conclusive, the department may:
A. redeem for cash or, as specified in the Tax Administration Act for sale of property levied upon, sell such security; or
B. compel the surety directly to discharge the liability for payment of the principal debtor by serving demand upon him therefor.
History: 1953 Comp., § 72-13-69, enacted by Laws 1965, ch. 248, § 57; 1979, ch. 144, § 50; 2001, ch. 56, § 15.