§ 40.136. Superseding bond.
140 words·~1 min read·
/us/cfr/t27/s§ 40.136·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A manufacturer of tobacco products shall immediately file a new bond to supersede his current bond when
(a)The corporate surety on the current bond becomes insolvent,
(b)The appropriate TTB officer approves a request from the surety on the current bond to terminate his liability under the bond,
(c)Payment of any liability under a bond is made by the surety thereon,
(d)The amount of the bond is no longer sufficient under the provisions of § 40.133 or § 40.134 and a strengthening bond has not been filed, or
(e)The appropriate TTB officer considers such a superseding bond necessary for the protection of the revenue. Where a bond is not filed as required under the provisions of this section the manufacturer shall discontinue forthwith the operations to which such bond relates. (72 Stat. 1421: 26 U.S.C. 5711)
Connectionstraces to 1
Traces to 1 document
U.S. Code
1 reference not yet in our index
- 72 Stat. 1421
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources