Or. Admin. Code § 150-323-0060 - Security Bond Requirements for Cigarette Distributors

(1) A purchase may not exceed a bond or other security amount if a licensee or applicant for a license elects to pay for cigarette tax stamps on deferred status. The amount of the bond or other security will be equal to the total maximum deferred payment purchase that may be made in any one calendar month.

(2) If at any time the distributor reaches its bond or security limit, the bond or security becomes ineffective, or the surety cancels the bond or security, then the distributor may only purchase stamps on a cash basis until the bond or security is renewed.

Notes

Or. Admin. Code § 150-323-0060

REV 6-2004, f. 7-30-04, cert. ef. 7-31-04; Renumbered from 150-323.110, REV 72-2016, f. 8-15-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100 & 323.440

Stats. Implemented: ORS 323.107