Rule 560-3-2-.07. Post Bond

Licensed tobacco distributors who are authorized to purchase tobacco tax stamps from the State Revenue Department on account must first post a bond with the commissioner in the amount of 110% of his purchases of such stamps on account. Such bond shall be secured by cash which shall bear no interest or by negotiable securities approved by the State Treasury or a surety bond executed by a surety company licensed to do business in this State and approved by the Commissioner.

Authority: Ga. L. 1937 - 1938, Extra Sess., p. 77, Ga. L. 1970, p. 146.

History. Original Rule entitled "Post Bond" adopted. F. May 21, 1970; eff. July 1, 1970, as specified by R. 560-3-2-.25.