ALABAMA DEPARTMENT OF REVENUE
BUSINESS & LICENSE TAX DIVISION
MOTOR FUELS TAX RULE
810-8-1-.29. Deposits in Lieu of Surety Bonds.
(1) A distributor may, in lieu of posting a surety bond, deposit
with the division any of the following in amounts equivalent to the amount of
bond fixed by the department:
- (a) United States government coupon bonds having a market value
not less than the amount of bond required. A coupon bond is a negotiable bond
with interest coupons attached.
- (b) Coupon bonds of the state of Alabama having a market value
not less than the amount of bond required.
(2) The deposit must be sent directly to the Natural Resources
and License Tax Division with advice that such deposit has been made.
(Sections 40-17-18, 40-17-221(b) and 40-17-14.)
Numeric Index