[§245-27]  Maximum amount ofdeferred-payment purchases; bond.  (a)  A licensee may apply to thedepartment to set the maximum amount of deferred-payment purchases of stampsthat may remain unpaid by the licensee during the time specified under section245-28.  Upon receipt of the application and any bond required pursuant tosubsection (b), the department shall set the amount for deferred-paymentpurchases.

(b)  The department may require that a licenseewho submits an application for deferred-payment purchases of stamps post a bondin an amount of up to one hundred per cent of the maximum amount of alloweddeferred-payment purchases as a condition of department approval of theapplication. [L 2000, c 249, pt of §1]