[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR24.157]

[Page 623]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 24_WINE--Table of Contents
 
                 Subpart D_Establishment and Operations
 
Sec.  24.157  Application by surety for relief from bond.

    A surety on any bond required by this part may at any time, in 
writing, notify the principal and the appropriate TTB officer in whose 
office the bond is on file, that it desires after a specified date, to 
be relieved of liability under the bond. The date may not be less than 
10 days after the date notice is received by the appropriate TTB officer 
in the case of a tax deferral bond, and not less than 90 days after the 
date the notice is received in the case of a bonded wine premises bond 
or wine vinegar plant bond. The surety will also file with the 
appropriate TTB officer an acknowledgment, or other evidence of service, 
of a notice on the principal. The 10 day or 90 day period does not 
commence until both the acknowledgment or other evidence of service and 
the notice are filed. If a notice is not thereafter withdrawn in 
writing, the rights of the principal as supported by the bond will be 
terminated on the date specified in the notice, and the surety will be 
relieved from liability to the extent set forth in Sec.  24.158. (Sec. 
201, Pub. L. 85-859, 72 Stat. 1379, as amended, 1380, as amended (26 
U.S.C. 5354, 5362))

(Approved by the Office of Management and Budget under control number 
1512-0058)

[T.D. ATF-299, 55 FR 24989, June 19, 1990, as amended by T.D. ATF-409, 
64 FR 13683, Mar. 22, 1999]