{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-320","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-320","heading":"Surety, collateral or cash bond requirements for","body":"distributing agents, wholesalers or jobbers - Release of surety or\n\nsecurity - Multiple licenses.\n\nA. Every person making application for a distributing agent's\n\nlicense under this article or the following article containing the\n\ntobacco Products Tax Code shall, before being issued such license\n\nand as a condition of carrying on such business, file with the\n\nOklahoma Tax Commission a surety or collateral or cash bond in the\n\namount of Twenty-five Thousand Dollars ($25,000.00) payable to the\n\nState of Oklahoma, and conditioned upon compliance with the\n\nprovisions of this article or the following article of this Code,\n\nand the rules of the Oklahoma Tax Commission.\n\nB. Every person making application for a wholesaler's or\n\njobber's license under this article shall, before being issued such\n\nlicense and as a condition of carrying on such business, file with\n\nthe Tax Commission a surety or collateral or cash bond in the amount\n\nof Twenty-five Thousand Dollars ($25,000.00) payable to the State of\n\nOklahoma and conditioned upon compliance with the provisions of this\n\narticle and the rules of the Oklahoma Tax Commission.\n\nC. 1. Sixty (60) days after making a written request for\n\nrelease to the Tax Commission, the surety of a bond furnished by a\n\nlicensee shall be released from any liability to the state accruing\n\non the bond after the sixty-day period. The release does not affect\n\nany liability accruing before the expiration of the sixty-day\n\nperiod.\n\n2. The Tax Commission shall promptly notify the licensee\n\nfurnishing the bond that a release has been requested. Unless the\n\nlicensee obtains a new bond that meets the requirements of this act\n\nand files with the Tax Commission the new bond within the sixty-day\n\nperiod, the Tax Commission shall cancel the license.\n\n3. Sixty (60) days after making a written request for release\n\nto the Tax Commission, the cash deposit provided by a licensee shall\n\nbe canceled as security for any obligation accruing after the\n\nexpiration of the sixty-day period. However, the Tax Commission may\n\nretain all or part of the cash deposit for up to three (3) years and\n\none (1) day as security for any obligations accruing before the\n\neffective date of the cancellation. Any part of the deposit not\n\nretained by the Tax Commission shall be released to the licensee.\n\nBefore the expiration of the sixty-day period, the licensee shall\n\nprovide the Tax Commission with a bond that satisfies the\n\nrequirements of this act, or the Tax Commission shall cancel the\n\nlicense.\n\n4. Any licensee who has filed a bond or other security is\n\nentitled, on request, to have the Tax Commission return, refund, or\n\nrelease the bond or security if, in the judgment of the Tax\n\nCommission, the licensee has continuously complied with the\n\nprovisions of this article and Article 4 containing the tobacco\n\nproducts tax code for the previous three (3) consecutive years.\n\nHowever, if the Tax Commission determines that the revenues of the\n\nstate would be jeopardized by the return, refund or release of bond\n\nor security, the Tax Commission may elect to retain the bond or\n\nsecurity, or having released such, may reimpose a requirement for\n\nbond or security to protect the revenues of this state. The\n\ndecision of the Tax Commission to not release a bond or security may\n\nbe reviewed, after application by the licensee, pursuant to the\n\nAdministrative Procedures Act.\n\nD. In the event any applicant for a license applies for more\n\nthan one license pursuant to this article or Article 4 containing\n\nthe tobacco products tax code, the applicant shall not be required\n\nto post a bond for each license, but shall be required to post a\n\nbond for the license which requires the greatest amount of bond.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"96fef454906d69a7f8d89ad61076a5a9c66bbeb7984fe40f49529ea9124aeacc","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-319","next":"us-ok/okla.-stat.-tit.-68-68-3201"},"notice":"GroundRules: Original legal text. Not legal advice."}