Code of Federal Regulations Title 27. Alcohol, Tobacco Products and Firearms § 27.24.156 Termination of bonds

A bond prescribed in § 24.146 may be terminated as to future liability pursuant to application by the surety as provided in § 24.157;  pursuant to approval of a superseding bond;  upon receipt of notification from the principal that the business has been discontinued and all wine and spirits have been removed from the bonded wine premises as provided in § 24.140(b); pursuant to an application by an existing proprietor who becomes exempt from bond requirements as provided in § 24.160;  or in the case of a tax deferral bond, the termination will be issued upon receipt of written notification from the principal that removals of wine requiring a tax deferral bond have been discontinued.

(Authority:  Sec. 201, Pub.L. 85–859, 72 Stat. 1379, as amended (26 U.S.C. 5354))

(Approved by the Office of Management and Budget under control number 1512–0058)