GroundRules
27 CFR 41.123: Superseding bond.
Where this section sits in the code
- Title 27—Alcohol, Tobacco Products and Firearms
- CHAPTER I—ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY
- SUBCHAPTER B—TOBACCO
- PART 41—IMPORTATION OF TOBACCO PRODUCTS, CIGARETTE PAPERS AND TUBES, AND PROCESSED TOBACCO
- Subpart G—Puerto Rican Tobacco Products and Cigarette Papers and Tubes, Brought Into the United States
A bonded manufacturer shall immediately file a new bond to supersede his current bond when (a) the corporate surety on the current bond becomes insolvent, (b) the appropriate TTB officer approves a request from the surety on the current bond to terminate his liability under the bond, (c) the payment of any liability under a bond is made by the surety thereon, (d) the amount of the bond is no longer sufficient under the provisions of § 41.121 and a strengthening bond has not been filed, or (e) the appropriate TTB officer considers a superseding bond necessary for the protection of the revenue.
Collected 2026-08-27T02:25:11Z. Source file · JSON