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



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