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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) Every vendor before beginning operation or commencing business in this state shall give bond to the State of Arkansas.
(b) The bond shall be conditioned upon the faithful performance of the duties and obligations imposed by this subchapter and the rules promulgated by the Secretary of the Department of Finance and Administration.
(c) The bond required shall be established by the following table:
(1) Up to 30 machines$2,000
(2) 31 to 60 machines3,000
(3) 61 to 90 machines4,000
(4) 91 to 120 machines5,000
(5) Over 120 machines6,000
(d) This bond shall be executed by a solvent surety company authorized to do business in this state or other responsible surety approved by the secretary.
Cite this article: FindLaw.com - Arkansas Code Title 26. Taxation § 26-57-224. Vendor to give bond - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-26-taxation/ar-code-sect-26-57-224/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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