54:40A-13 - Credit sales of revenue stamps
54:40A-13.Ā Credit sales of revenue stamps
The director, in his discretion, may permit a licensed distributor to pay for revenue stamps within thirty days after the date of purchase; provided, a bond or an irrevocable letter of credit, issued by a State or federally chartered bank, that is satisfactory to the director in an amount not less thanĀ the sales price of such stamps shall have been filed with the director. TheĀ bond, conditioned to secure payment for such stamps, shall be executed by theĀ licensed distributor, as principal, and by a corporation duly authorized toĀ engage in business as a surety company in the State of New Jersey, as surety.
L.1948, c. 65, p. 160, s. 403.Ā Amended by L.1948, c. 108, p. 567, 2; L.1983, c. 3, s. 1, eff. Jan. 17, 1983.
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The director, in his discretion, may permit a licensed distributor to pay for revenue stamps within thirty days after the date of purchase; provided, a bond or an irrevocable letter of credit, issued by a State or federally chartered bank, that is satisfactory to the director in an amount not less thanĀ the sales price of such stamps shall have been filed with the director. TheĀ bond, conditioned to secure payment for such stamps, shall be executed by theĀ licensed distributor, as principal, and by a corporation duly authorized toĀ engage in business as a surety company in the State of New Jersey, as surety.
L.1948, c. 65, p. 160, s. 403.Ā Amended by L.1948, c. 108, p. 567, 2; L.1983, c. 3, s. 1, eff. Jan. 17, 1983.
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