La. R.S. 47:773 — Amount, tenor and solvency of bond

Each dealer shall furnish bond in an amount and of tenor and solvency satisfactory to the collector. In no event shall the bond exceed in amount the total tax, penalty, or interest of the particular dealer for the last preceding three calendar months. If the dealer has had no tax, penalty, or interest for the period mentioned, the initial bond shall not exceed the amount of twenty thousand dollars for taxes on gasoline or motor fuel, ten thousand dollars for taxes on lubricating oil, and two thousand dollars for taxes on kerosene. In no event shall the bond be less than the average monthly taxes, penalties and interest due under this Chapter by such dealer during the last preceding twelve calendar months. Nothing contained herein shall be construed to prevent the prepayment by the dealer of the taxes involved so as to reduce the amount of the bond required so long as such payments are strictly in accord with rules and regulations prescribed by the collector. Each dealer may furnish a separate bond for taxes on gasoline or motor fuel, for taxes on lubricating oil, and for taxes on kerosene, or at his option the dealer may furnish a combined bond covering his liability for all of those taxes, the amount of which shall be the aggregate of the amounts which would be required if separate bonds were furnished.