27 C.F.R. § 40.136 Superseding bond.
Title 27 - Alcohol, Tobacco Products and Firearms
A manufacturer of tobacco products shall immediately file a new bond to supersede his current bond when (a) The corporate surety on the current bond becomes insolvent, (b) The appropriate TTB officer approves a request from the surety on the current bond to terminate his liability under the bond, (c) Payment of any liability under a bond is made by the surety thereon, (d) The amount of the bond is no longer sufficient under the provisions of §40.133 or §40.134 and a strengthening bond has not been filed, or (e) The appropriate TTB officer considers such a superseding bond necessary for the protection of the revenue. Where a bond is not filed as required under the provisions of this section the manufacturer shall discontinue forthwith the operations to which such bond relates. (72 Stat. 1421: 26 U.S.C. 5711)
Title 27: Alcohol, Tobacco and Firearms
PART 40—MANUFACTURE OF TOBACCO PRODUCTS AND CIGARETTE PAPERS AND TUBES
Subpart G—Bonds and Extensions of Coverage of Bonds
§ 40.136 Superseding bond.
