[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR26.70]

[Page 675]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 26--LIQUORS AND ARTICLES FROM PUERTO RICO AND THE VIRGIN ISLANDS--Table of Contents
 
      Subpart E--Taxpayment of Liquors and Articles in Puerto Rico
 
Sec. 26.70  New or superseding bonds.

    New bonds shall be required in case of insolvency or removal of any 
surety, and may, at the discretion of the appropriate ATF officer, be 
required in any other contingency affecting the validity or impairing 
the efficiency of an existing bond. Executors, administrators, 
assignees, receivers, trustees, or other persons acting in a fiduciary 
capacity, continuing or liquidating the business of the principal, shall 
execute and file a new bond or obtain the consent of the surety or 
sureties on the existing bond or bonds. Where, under the provisions of 
Sec. 26.72, the surety on any bond given under this subpart has filed an 
application to be relieved of liability under said bond and the 
principal desires or intends to continue the operations to which such 
bond relates, he shall file a valid superseding bond to be effective on 
or before the date specified in the surety's notice. New or superseding 
bonds shall show the current date of execution and the effective date.

[T.D. 6551, 26 FR 1590, Feb. 22, 1961. Redesignated at 40 FR 16835, Apr. 
15, 1975, and amended by T.D. ATF-251, 52 FR 19338, May 22, 1987. 
Further redesignated and amended by T.D. ATF-459, 66 FR 38550, 38551, 
July 25, 2001]