Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 27 - Alcohol, Tobacco Products and Firearms |
Chapter I - Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury |
SubChapter A - Alcohol |
Part 26 - Liquors and Articles from Puerto Rico and the Virgin Islands |
Subpart E - Taxpayment of Liquors and Articles in Puerto Rico |
Bonds |
§ 26.63 - Deposit of securities or cash (including cash equivalents) in lieu of corporate surety.
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§ 26.63 Deposit of securities or cash (including cash equivalents) in lieu of corporate surety.
-(a) Deposit of securities. In lieu of corporate surety, the principal may pledge and deposit, as surety for his bond, securities which are transferable and are guaranteed as to both interest and principal by the United States, in accordance with the provisions of 31 CFR part 225
, Notes or Other Obligations Issued or Guaranteed by the United States as Security— Acceptance of Bonds
Surety or Sureties on Penal Bonds. (Secured by Government Obligations in Lieu of
Bonds with Sureties.
(b) Deposit of cash or cash equivalent. In lieu of corporate surety, a person can file a bond that guarantees payment of the liability by submitting cash or its equivalent (including a money order, cashier's check, or personal check). Cash or its equivalent must be no less than the penal sums of the required bonds. Cash equivalents must be payable to the Alcohol and Tobacco Tax and Trade Bureau.
[T.D. 6551, 26 FR 1490, Feb. 22, 1961. Redesignated at 40 FR 16835, Apr. 15, 1975, and amended by T.D. ATF-92ATF–92, 46 FR 46921, Sept. 23, 1981; T.D. TTB–146, 82 FR 1130, Jan. 4, 2017]