26 U.S.C. § 5711 — Bond
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 150 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Every person, before commencing business as a manufacturer of tobacco products or cigarette papers and tubes, or as an export warehouse proprietor, shall file such bond, conditioned upon compliance with this chapter and regulations issued thereunder, in such form, amount, and manner as the Secretary* shall by regulation prescribe. A new or additional bond may be required whenever the Secretary considers such action necessary for the protection of the revenue.
No person shall engage in such business until he receives notice of approval of such bond. A bond may be disapproved, upon notice to the principal on the bond, if the Secretary determines that the bond is not adequate to protect the revenue.
Any bond filed hereunder may be canceled, upon notice to the principal on the bond, whenever the Secretary determines that the bond no longer adequately protects the revenue.
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 711; Pub. L. 85–859, title II, § 202, Sept. 2, 1958, 72 Stat. 1421; Pub. L. 89–44, title V, § 502(b)(6), June 21, 1965, 79 Stat. 151; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
- 1958Amended · Pub. L. 85-859 · 72 Stat. 1421
- 1965Amended · Pub. L. 89-44 · 79 Stat. 151
- 1976Amended · Pub. L. 94-455 · 90 Stat. 1834
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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