40.406—Superseding bond.

A manufacturer of cigarette papers and tubes shall file a new bond to supersede the 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 of the current bond to terminate liability under the bond,

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

Code of Federal Regulations

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