§11-17-11. Surety bonds required; release of surety; new bond.
The tax commissioner may require wholesalers, subjobbers or
retail dealers to file continuous surety bond in an amount to be
fixed by the tax commissioner except that the amount shall not be
less than one thousand dollars. Upon completion of the filing of
a surety bond an annual notice of renewal, only, shall be required
thereafter. The surety must be authorized to engage in business
within this state. The bond shall be conditioned upon faithfully
complying with the provisions of this article including the filing
of the returns and payment of all taxes prescribed by this article.
Any surety on a bond furnished hereunder shall be released and
discharged from all liability accruing on such bond after the
expiration of sixty days from the date the surety shall have
lodged, by certified mail, with the tax commissioner a written
request to be discharged. This shall not relieve, release or
discharge the surety from liability already accrued, or which shall
accrue before the expiration of the sixty-day period. Whenever any
surety shall seek release as herein provided, it shall be the duty
of the person to supply the tax commissioner with another bond.