Indiana Code — Title 6 (Taxation)
IC 6-6-2.5-47
Deposit insufficient to ensure payment; written demand to file
new bond; requirements; cancellation of license
Sec. 47.
# (a)
If the commissioner reasonably determines that the amount of the existing bond or cash deposit is insufficient to ensure payment to the state of the tax and any penalty and interest for which the licensee is or may become liable, the licensee shall, upon written demand of the commissioner, file a new bond or increase the cash deposit. The commissioner shall allow the licensee at least thirty (30) days to secure the increased bond or cash deposit.
# (b)
The new bond or cash deposit must meet the requirements set forth in this chapter.
# (c)
If the new bond or cash deposit required under this section is unsatisfactory, the commissioner shall cancel the licensee's license certificate.
As added by P.L.277-1993(ss), SEC.44. Amended by P.L.18-1994, SEC.31.
Amendment history
As added by P.L.277-1993(ss), SEC.44. Amended by P.L.18-1994, SEC.31.
Source: view the official text
Nearby sections (25 sections)
- 6-6-2.5-35 · Collection and remittance of special fuel tax
- 6-6-2.5-36 · Remittance of tax; procedures; deadline
- 6-6-2.5-37 · Costs of collection, reporting, and remittance; retention…
- 6-6-2.5-38 · Duties and responsibilities of supplier in collection of…
- 6-6-2.5-39 · Consumption of tax-exempt dyed or marked fuel for
- 6-6-2.5-40 · Transportation of special fuel; requirements and…
- 6-6-2.5-41 · Licenses
- 6-6-2.5-42 · Application for license; form and content; investigation
- 6-6-2.5-43 · Repealed
- 6-6-2.5-44 · Surety bond or cash deposit; filing by applicants
- 6-6-2.5-45 · Disclosure of financial records; increase in bond or cash
- 6-6-2.5-46 · Filing of new bond; conditions; cancellation of license;
- 6-6-2.5-47 · Deposit insufficient to ensure payment; written demand to…
- 6-6-2.5-48 · Release of surety from liability; written request; notice;
- 6-6-2.5-49 · Denial of license; hearing; notice
- 6-6-2.5-50 · Issuance of license
- 6-6-2.5-51 · Validity of license
- 6-6-2.5-52 · Transfer of license; prohibition
- 6-6-2.5-53 · Display of license at place of business
- 6-6-2.5-54 · Discontinuance of business; surrender of license
- 6-6-2.5-55 · Notice of discontinuance, sale, or transfer of business;…
- 6-6-2.5-56 · Repealed
- 6-6-2.5-56.5 · Suppliers, permissive suppliers, and licensed importers;
- 6-6-2.5-57 · Terminal operators; reporting requirements; inventory
- 6-6-2.5-58 · Final report upon discontinuance, sale, or transfer of…