27 C.F.R. § 19.170

Current through May 31, 2024

Section 19.170 - Termination of bonds

Liability under operations bonds, withdrawal bonds, and unit bonds may be terminated for future withdrawals, future production, or future deposits as set forth below:

(a)On application by the surety. A surety may terminate a bond by filing a notice as provided in § 19.171 ;

(b)By replacement of the bond. A principal may terminate an existing bond by replacing it with a superseding bond approved by TTB;

(c)By discontinuing withdrawals. A principal may terminate a withdrawal bond by notifying TTB that the principal has stopped making withdrawals covered by the bond, if the bond was filed solely as a withdrawal bond; or

(d)By discontinuing the business. A principal may terminate a bond by notifying TTB that the principal has discontinued business.

27 C.F.R. §19.170

26 U.S.C. 5173