Page:United States Statutes at Large Volume 68A.djvu/751

 CH. 52—TOBACCO AND MANUFACTURES

711

Subchapter B—Qualification Requirements for Manufacturers of Articles and Dealers in Tobacco Materials Yji V.

Sec. 5711. Bond. Sec. 5712. Application for permit. Sec. 5713. Permit.

SEC. 5711. BOND.

(a) W H E N REQUIRED.—Every person, before commencing business as a manufacturer of articles or dealer in tobacco materials, shall file such bond, conditioned upon compliance with this chapter and regulations issued thereunder, in such form, amount, and manner as the Secretary or his delegate shall by regulation prescribe. A new or additional bond may be required whenever the Secretary or his delegate considers such action necessary for the protection of the revenue. (b) APPROVAL OR DISAPPROVAL.—No person shall engage in such business until he receives notice of approval of such bond. A bond may be disapproved, upon notice to the principal on the bond, if the Secretary or his delegate determines that the bond is not adequate to protect the revenue. (c) CANCELLATION.—Any bond filed hereunder may be canceled, upon notice to the principal on the bond, whenever the Secretary or his delegate determines that the bond no longer adequately protects the revenue. SEC. 5712. APPLICATION FOR PERMIT.

Every person, before commencing business as a manufacturer of articles or dealer in tobacco materials, and at such other time as the Secretary or his delegate shall by regulation prescribe, shall make application for the permit provided for in section 5713. The application shall be in such form as the Secretary or his delegate shall prescribe and shall set forth, truthfully and accurately, the information called for on the form. Such application may be rejected and the permit denied if the Secretary or his delegate, after notice and opportunity for hearing, finds that— (1) the premises on which it is proposed to conduct the business are not adequate to protect the revenue; or (2) such person (including, in the case of a corporation, any ofl&cer, director, or principal stockholder and, ia the case of a partnership, a partner) is, by reason of his business experience, financial standing, or trade connections, not likely to maintain operations in compliance with this chapter, or has failed to disclose any material information required or made any material false statement in the application therefor. No person subject to this section, who is engaged in business on the effective date of this chapter, shall be denied the right to carry on such business pending reasonable opportunity to make application for permit and final action thereon. §5712

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