Code of Federal Regulations · Section
§ 44.125 — Superseding Bond
27 C.F.R. § 44.125
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An export warehouse proprietor shall file a new bond to supersede his current bond, immediately 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, or (d) the appropriate TTB officer considers such a superseding bond necessary for the protection of the revenue.
Authorizing Statute
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Bond26 U.S.C. § 5711
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Limitation on use of cash method of accounting26 U.S.C. § 448
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Definitions31 U.S.C. § 9301