Statutes, codes, and regulations
Code of Federal Regulations
Title 27 - ALCOHOL, TOBACCO PRODUCTS AND FIREARMSChapter I - ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURYSubchapter B - TOBACCOPart 40 - MANUFACTURE OF TOBACCO PRODUCTS, CIGARETTE PAPERS AND TUBES, AND PROCESSED TOBACCOSubpart K - MANUFACTURE OF CIGARETTE PAPERS AND TUBES
QUALIFICATION REQUIREMENTS FOR MANUFACTURERS
Section 40.406 - Superseding bond

27 C.F.R. § 40.406

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Current through May 31, 2024
Section 40.406 - Superseding bond

A manufacturer of cigarette papers and tubes shall file a new bond to supersede the 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 of the current bond to terminate 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.

27 C.F.R. § 40.406

72 Stat. 1421; 26 U.S.C. 5711