N.J. Admin. Code § 18:5-6.6

Current through Register Vol. 56, No. 17, September 3, 2024

Section 18:5-6.6 - Licensed distributor files bond

(a) Each licensed distributor is required to file with the Director a bond in an amount not less than the average monthly value of the cigarette stamps used by the licensed distributor to guarantee the proper performance of his or her duties and the discharge of liabilities pursuant to the provisions of the Act.

(b) The bond is to be executed by such licensed distributor as principal, and by a corporation approved by the Director and duly authorized to engage in business as a surety company in the State of New Jersey as surety.

(c) The bond is to run concurrently with the distributor's license and be filed on the Distributor's Cigarette Tax Stamp Credit Bond form with the Division of Revenue and Enterprise Services.

N.J. Admin. Code § 18:5-6.6

Amended by 49 N.J.R. 1912(b), effective 7/3/2017

Amended by 56N.J.R. 1809(b), effective 9/3/2024