1. (a) Bonds required of permit holders authorized to import liquor into this state shall be executed by the permit holder as principal and a surety company duly qualified and doing business in this state as a surety as required in §204. 01 et seq., of the Alcoholic Beverage Code. Bonds shall be in a minimum amount of $1,000 and the maximum amounts of the bonds shall be determined by the administrator. In determining the maximum amounts of the bonds, the administrator shall calculate the estimated tax liability on the maximum sales of liquor for any one month. The maximum bond fixed by the administrator shall calculate the estimated tax liability on the maximum sales of liquor for any one month. The maximum bond fixed by the administrator shall be an amount that will adequately protect the State of Texas against the anticipated tax liability of the principal during any six weeks' period.
2. (b) The administrator as he deems necessary, or on an original or renewal application of said permittees, shall cause an investigation to be made of the adequacy of any bond and shall make adjustments as he deems justified.
3. (c) Such bonds shall be executed on forms furnished by the commission and approved by the attorney general of Texas.

Source Note:The provisions of this §41.42 adopted to be effective January 1, 1976; amended to be effective September 18, 1978, 3 TexReg 3093.