[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR44.122]

[Page 929]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 44_EXPORTATION OF TOBACCO PRODUCTS AND CIGARETTE PAPERS AND 
 
           Subpart F_Bonds and Extensions of Coverage of Bonds
 
Sec. 44.122  Deposits of bonds, notes, or obligations in lieu of 
corporate surety.

    Bonds or notes of the United States, or other obligations which are 
unconditionally guaranteed as to both interest and principal by the 
United States, may be pledged and deposited by the export warehouse 
proprietor as security in connection with bond to cover his operations, 
in lieu of the corporate surety, in accordance with the provisions of 
Treasury Department Circular No. 154, revised (31 CFR part 225). Such 
bonds or notes which are nontransferable, or the pledging of which will 
not be recognized by the Treasury Department, are not acceptable as 
security in lieu of corporate surety.

(72 Stat. 1421, 61 Stat. 650; 26 U.S.C. 5711, 6 U.S.C. 15)

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