Miss. Code § 27-57-7
Before any person shall engage in business as a Class A distributor of lubricating oil, as defined in this article, in this state he shall first make application to the department, upon forms prescribed by the department, for a permit to engage in said business.
If said application is approved, the department may require said applicant to enter into a good and sufficient surety bond, written by a company qualified to write such bonds in the State of Mississippi, which bond shall be made payable to the State of Mississippi in a sum not less than One Thousand Dollars ($1,000.00) nor more than Two Hundred Fifty Thousand Dollars ($250,000.00); or in lieu thereof, deposit with the department a cash bond in the aforesaid amount. A personal bond in the aforesaid amount shall also be acceptable if the same is secured by bonds of the State of Mississippi or the United States government. Such bond or bonds shall be in an amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00), and not to exceed the lubricating oil tax estimated to become due by the said distributor for any ninety-day period. If the distributor of lubricating oil is greater than one (1) month delinquent, and the lubricating oil tax estimate for any ninety-day period exceeds Two Hundred Fifty Thousand Dollars ($250,000.00), then the bond amount shall be increased in excess of Two Hundred Fifty Thousand Dollars ($250,000.00) to equal the lubricating oil tax estimate for any ninety-day period. If the distributor of lubricating oil is greater than three (3) months delinquent, and the lubricating oil tax estimate for any one-hundred-eighty-day period exceeds Two Hundred Fifty Thousand Dollars ($250,000.00), then the bond amount shall be increased in excess of Two Hundred Fifty Thousand Dollars ($250,000.00) to equal the lubricating oil tax estimated for any one-hundred-eighty-day period. The bond herein required shall be increased within the limits hereinbefore set forth from time to time if deemed insufficient by the department giving to the licensee fifteen (15) days' notice, in writing, to increase said bond, said notice to state the amount of increase demanded.
The bond required by this section shall be conditioned that the distributor will fully comply with all laws pertaining to distributors of lubricating oil and pay all excise taxes and penalties provided. Provided that bonds given by distributors under the laws heretofore in force shall remain in full force and effect. Provided, however, any person who has already furnished bond under a prior petroleum tax law or shall furnish a bond to meet the requirements of any petroleum tax law administered by the department shall not be required to furnish an additional bond, but said person shall be subject to all other conditions, requirements and liabilities imposed herein upon a distributor of lubricating oil.
Miss. Code § 27-57-7