A manufacturer of cigarette papers and tubes shall file a new bond to supersede the current bond immediately when:

1. (a) The corporate surety on the current bond becomes insolvent,
2. (b) The appropriate TTB officer approves a request from the surety of the current bond to terminate liability under the bond,
3. (c) Payment of any liability under a bond is made by the surety thereon, or

4. (d) The appropriate TTB officer considers such a superseding bond necessary for the protection of the revenue.

   (72 Stat. 1421; 26 U.S.C. 5711)