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 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 |
§ 41.126 - Termination of bond.
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§ 41.126 Termination of bond.
Any bond given under the provisions of this subpart may be terminated as to future transactions, by the appropriate TTB officer, (a) pursuant to application of surety as provided in § 41.127; (b) on approval of a superseding bond; (c) on notification by the bonded manufacturer to the appropriate TTB officer that he has discontinued the deferral of taxes under the bond; or (d) on notification by the bonded manufacturer to the appropriate TTB officer that he has discontinued business. When any bond is terminated, the appropriate TTB officer shall notify both the bonded manufacturer and surety on such bond, in writing, of such action.
[26 FR 8196, 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]