[Code of Federal Regulations]

[Title 27, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 27CFR28]



[Page 792]

 

            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS

 

 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 

                                TREASURY

 

PART 28_EXPORTATION OF ALCOHOL--Table of Contents

 

                 Subpart D_Bonds and Consents of Surety

 

Sec.  28.67  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 TTB officer, be 

required in any other contingency affecting the validity or impairing 

the efficiency of such 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.  28.72, 

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 business or 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. If the principal does 

not file a new or superseding bond when required, he shall discontinue 

the operations intended to be covered by such bond forthwith. New or 

superseding bonds shall show the current date of execution and the 

effective date.



(72 Stat. 1336, 1362; 26 U.S.C. 5062, 5214)



[25 FR 5734, June 23, 1960. Redesignated at 40 FR 16835, Apr. 15, 1975, 

and amended by T.D. ATF-62, 44 FR 71722, Dec. 11, 1979; T.D. TTB-8, 69 

FR 3832, Jan. 27, 2004]



                          Termination of Bonds