§ 4.1-238. Bond required to secure excise tax liability on beer and winecoolers, and wine stored in bonded warehouses.
A. Every manufacturer, bottler or wholesaler, as a condition precedent toobtaining a license to sell beer or wine coolers to a licensed retailer,shall file a bond with the Board in such sum and with such surety as theBoard deems adequate to cover the tax liability of each such manufacturer,bottler or wholesaler. The sum of such bond shall be proportioned to thevolume of business of each such manufacturer, bottler or wholesaler, butshall in no event be less than $1,000 or more than $100,000. Such bond shallbe conditioned upon the payment by such manufacturer, bottler or wholesalerof the tax imposed by § 4.1-236.
B. Every holder of a bonded warehouse permit, issued in accordance withsubdivision 14 of § 4.1-212, as a condition to obtaining the permit, shallfile a bond with the Board in such sum and with such surety as the Boarddeems adequate to cover the tax liability of each such permittee. The sum ofsuch bond shall be proportioned to the volume of business of each suchmanufacturer, bottler, or wholesaler, but shall in no event be less than$1,000 or more than $10,000. Such bond shall be conditioned upon the paymentby the permittee of the tax imposed by § 4.1-234.
C. The Board may waive the requirement of both the surety and the bond, incases where a manufacturer, bottler or wholesaler has previously demonstratedhis financial responsibility.
D. Upon the termination of the bond, its guaranty or surety, the Board, uponreasonable notice to the manufacturer, bottler or wholesaler so licensed, maysuspend the license so granted until such times as the required bond is filedor the proper surety or guaranty is given.
(1988, c. 261, § 4-138; 1993, c. 866; 2003, c. 564.)
§ 4.1-238. Bond required to secure excise tax liability on beer and winecoolers, and wine stored in bonded warehouses.
A. Every manufacturer, bottler or wholesaler, as a condition precedent toobtaining a license to sell beer or wine coolers to a licensed retailer,shall file a bond with the Board in such sum and with such surety as theBoard deems adequate to cover the tax liability of each such manufacturer,bottler or wholesaler. The sum of such bond shall be proportioned to thevolume of business of each such manufacturer, bottler or wholesaler, butshall in no event be less than $1,000 or more than $100,000. Such bond shallbe conditioned upon the payment by such manufacturer, bottler or wholesalerof the tax imposed by § 4.1-236.
B. Every holder of a bonded warehouse permit, issued in accordance withsubdivision 14 of § 4.1-212, as a condition to obtaining the permit, shallfile a bond with the Board in such sum and with such surety as the Boarddeems adequate to cover the tax liability of each such permittee. The sum ofsuch bond shall be proportioned to the volume of business of each suchmanufacturer, bottler, or wholesaler, but shall in no event be less than$1,000 or more than $10,000. Such bond shall be conditioned upon the paymentby the permittee of the tax imposed by § 4.1-234.
C. The Board may waive the requirement of both the surety and the bond, incases where a manufacturer, bottler or wholesaler has previously demonstratedhis financial responsibility.
D. Upon the termination of the bond, its guaranty or surety, the Board, uponreasonable notice to the manufacturer, bottler or wholesaler so licensed, maysuspend the license so granted until such times as the required bond is filedor the proper surety or guaranty is given.
(1988, c. 261, § 4-138; 1993, c. 866; 2003, c. 564.)
§ 4.1-238. Bond required to secure excise tax liability on beer and winecoolers, and wine stored in bonded warehouses.
A. Every manufacturer, bottler or wholesaler, as a condition precedent toobtaining a license to sell beer or wine coolers to a licensed retailer,shall file a bond with the Board in such sum and with such surety as theBoard deems adequate to cover the tax liability of each such manufacturer,bottler or wholesaler. The sum of such bond shall be proportioned to thevolume of business of each such manufacturer, bottler or wholesaler, butshall in no event be less than $1,000 or more than $100,000. Such bond shallbe conditioned upon the payment by such manufacturer, bottler or wholesalerof the tax imposed by § 4.1-236.
B. Every holder of a bonded warehouse permit, issued in accordance withsubdivision 14 of § 4.1-212, as a condition to obtaining the permit, shallfile a bond with the Board in such sum and with such surety as the Boarddeems adequate to cover the tax liability of each such permittee. The sum ofsuch bond shall be proportioned to the volume of business of each suchmanufacturer, bottler, or wholesaler, but shall in no event be less than$1,000 or more than $10,000. Such bond shall be conditioned upon the paymentby the permittee of the tax imposed by § 4.1-234.
C. The Board may waive the requirement of both the surety and the bond, incases where a manufacturer, bottler or wholesaler has previously demonstratedhis financial responsibility.
D. Upon the termination of the bond, its guaranty or surety, the Board, uponreasonable notice to the manufacturer, bottler or wholesaler so licensed, maysuspend the license so granted until such times as the required bond is filedor the proper surety or guaranty is given.
(1988, c. 261, § 4-138; 1993, c. 866; 2003, c. 564.)
