 |
Code of Federal Regulations (Last Updated: November 8, 2024) |
 |
Title 27 - Alcohol, Tobacco Products and Firearms |
|
Chapter I - Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury |
|
SubChapter B - Tobacco |
|
Part 41 - Importation of Tobacco Products, Cigarette Papers and Tubes, and Processed Tobacco |
|
Subpart G - Puerto Rican Tobacco Products and Cigarette Papers and Tubes, Brought Into the United States |
|
Deferred Payment of Tax in Puerto Rico on Tobacco Products |
§ 41.123 - Superseding bond.
-
§ 41.123 Superseding bond.
A bonded manufacturer 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) the 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 § 41.121 and a strengthening bond has not been filed, or (e) the appropriate TTB officer considers a superseding bond necessary for the protection of the revenue.
[26 FR 8195, Aug. 31, 1961. Redesignated at 40 FR 16835, Apr. 15, 1975, and amended by T.D. ATF-251, 52 FR 19341, May 22, 1987. Redesignated and amended by T.D. TTB-16, 69 FR 52424, 52425, Aug. 26, 2004]