Section 26-55-224 - Bonds - Additional bonds - Conditions for requirement(a) If the Secretary of the Department of Finance and Administration determines the amount of the existing bond is insufficient to ensure payment of the tax, interest, and penalty the distributor currently owes or may owe, the secretary may issue a written demand that the distributor file an additional bond in the same manner and form with a surety company approved by the secretary.(b) A distributor may seek administrative relief from a decision of the secretary under subsection (a) of this section by filing a written protest under the Arkansas Tax Procedure Act, § 26-18-101 et seq., or by filing a petition under the Independent Tax Appeals Commission Act, § 26-18-1101 et seq.(c) A hearing on the distributor's protest or petition under subsection (b) of this section shall be held within twenty (20) days of the date of the protest or petition, and a decision shall be issued within twenty (20) calendar days of the date of the hearing.(d)(1) A distributor may seek judicial relief from an adverse decision of the secretary or the Tax Appeals Commission by filing suit in the Pulaski County Circuit Court or in the circuit court of the county in which the distributor resides or has his or her principal place of business, where the matter shall be tried de novo.(2) The secretary may seek judicial relief under § 26-18-1117 from an adverse decision of the commission by filing suit in the Pulaski County Circuit Court or in the circuit court of the county in which the distributor resides or has its principal place of business in the state, where the matter shall be tried de novo.(3) A complaint for judicial relief under this subsection shall be filed within thirty (30) days of the date of the hearing decision issued by the secretary or the commission under subsection (c) of this section.(e) If a distributor fails to timely request a hearing to challenge the secretary's demand for additional bond under this section, the secretary shall cancel the license certificate of the distributor immediately.Amended by Act 2021, No. 593,§ 28, eff. 1/1/2023.Amended by Act 2019, No. 910,§ 3951, eff. 7/1/2019.Acts 1941, No. 383, § 9; A.S.A. 1947, § 75-1111.