When required
Every person, before commencing business as a manufacturer of tobacco products or cigarette papers and tubes, or as an export warehouse proprietor, shall file such bond, conditioned upon compliance with this chapter and regulations issued thereunder, in such form, amount, and manner as the Secretary shall by regulation prescribe. A new or additional bond may be required whenever the Secretary considers such action necessary for the protection of the revenue.
Approval or disapproval
No person shall engage in such business until he receives notice of approval of such bond. A bond may be disapproved, upon notice to the principal on the bond, if the Secretary determines that the bond is not adequate to protect the revenue.
Cancellation
Any bond filed hereunder may be canceled, upon notice to the principal on the bond, whenever the Secretary determines that the bond no longer adequately protects the revenue.
Aug. 16, 1954, ch. 73668A Stat. 711Pub. L. 85–859, title II, § 20272 Stat. 1421Pub. L. 89–44, title V, § 502(b)(6)79 Stat. 151Pub. L. 94–455, title XIX, § 1906(b)(13)(A)90 Stat. 1834(, ; , , ; , , ; , , .)
Editorial Notes
Amendments
Pub. L. 94–4551976— struck out “or his delegate” after “Secretary” wherever appearing.
Pub. L. 89–441965—Subsec. (a). struck out reference to dealers in tobacco materials.
Pub. L. 85–8591958—Subsec. (a). included export warehouse proprietors, and substituted “manufacturer of tobacco products or cigarette papers and tubes” for “manufacturer of articles”.
Statutory Notes and Related Subsidiaries
Effective Date of 1965 Amendment
Pub. L. 89–44section 701(d) of Pub. L. 89–44section 5701 of this titleAmendment by applicable on and after , see , set out as a note under .
Effective Date of 1958 Amendment
Pub. L. 85–859section 210(a)(1) of Pub. L. 85–859section 5001 of this titleAmendment by effective , see , set out as an Effective Date note under .
Transitional Rule
Pub. L. 111–3, title VII, § 702(g)123 Stat. 111