Surety bond or cash deposit; filing by applicants

# (1)

in an amount determined by the commissioner of not less than two thousand dollars
($2,000) or not more than a two (2) month tax liability for the applicant as estimated by the commissioner; and

# (2)

conditioned upon the keeping of records and the making of full and complete

reports and payments as required by this chapter.

(b) If the applicant files a bond, the bond must:

(1) be with a surety company approved by the commissioner;

(2) name the applicant as the principal and the state as the obligee; and

# (3)

be on forms prescribed by the department.
As added by P.L.277-1993(ss), SEC.44.