§ 44.125. Superseding bond.

86 words·~1 min read·/us/cfr/t27/s§ 44.125·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

An export warehouse proprietor shall file a new bond to supersede his current bond, immediately 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, or

(d)the appropriate TTB officer considers such a superseding bond necessary for the protection of the revenue. (72 Stat. 1421; 26 U.S.C. 5711)

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§ 44.125

Superseding bond.

Stat.72 Stat. 1421

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