17 NCAC 12B .0106          TYPES OF ACCEPTABLE BONDS

A surety bond is acceptable to the Motor Fuels Tax Division if it is filed on Form Gas-1212 and executed by a surety company licensed to do business in this State.  A bond secured by collateral is acceptable to the Division if it meets the requirements of 17 NCAC 12A .0303.  When a financial institution provides the Division with the necessary data for a bond secured by collateral, the Division prepares a Pledge of Collateral and gives this document to the applicant for execution.

History Note:        Authority G.S. 105-262; 105-449.72;

Temporary Adoption Eff. January 1, 1996;

Eff. March 1, 1996;

Amended Eff. August 1, 1998;

Recodified from 17 NCAC 09K .0205 Eff. November 1, 2002;

Amended Eff. August 1, 2003.