[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR17.111]

[Page 325]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 17_DRAWBACK ON TAXPAID DISTILLED SPIRITS USED IN MANUFACTURING 
 
                Subpart E_Bonds and Consents of Sureties
 
Sec.  17.111  General.

    (a) Bonds on TTB Form 5154.3 shall be terminated by the appropriate 
TTB officer, as to liability on drawback allowed after a specified 
future date, in the following circumstances:
    (1) Pursuant to a notice by the surety as provided in Sec.  17.112.
    (2) Following approval of a superseding bond, as provided in Sec.  
17.108.
    (3) Following notification by the principal of an intent to 
discontinue the filing of claims on a monthly basis.
    (b) However, the bond shall not be terminated until all outstanding 
liability under it has been discharged. Upon termination, the 
appropriate TTB officer shall mark the bond ``canceled,'' followed by 
the date of cancellation, and shall issue a notice of termination of 
bond. A copy of this notice shall be given to the principal and to each 
surety.