Page:United States Statutes at Large Volume 72 Part 1.djvu/1393

 72 S T A T. ] "(c)

PUBLIC LAW 85-859-SEPT. 2, 1958

BONDED WAREHOUSEMAN'S BONDS.— "(1) GENERAL REQUIREMENTS.—Every

person intending to commence or continue the business of a bonded warehouseman shall give bond in a penal sum not less than the amount of tax on distilled spirits stored on such premises and in transit thereto, except that such bond shall not exceed the sum of $200,000. In addition to the requirements in subsection (a), such bond shall be conditioned— " (A) on the withdrawal of the spirits from storage on bonded premises within the time prescribed for the determination of tax under section 5006(a)(2), and " (B) on payment of the tax, except as otherwise provided by law, on all spirits withdrawn from storage on the bonded premises. "(2) EXCEPTION.—The Secretary or his delegate may by regulations specify bonded warehousing operations, other than the storage of more than 500 casks or packages of distilled spirits in wooden containers, for which a bond in. a maximum sum of less than $200,000 will be approved, and in such cases the Secretary or his delegate shall by regulations prescribe the maximum penal sum of such bonds. " (d) RECTIFIER'S BOND.—Every person intending to commence or continue the business of a rectifier shall give bond in a penal sum not less than the amount of tax the rectifier will be liable to pay in a period of 30 days under sections 5021 and 5022, except that such bond shall not exceed the sum of $100,000, and shall not be less than $1,000. "(e)

COMBINED OPERATIONS.—

"(1) DISTILLED SPIRITS PLANTS.—Except as provided in paragraph (2), any person intending to commence or continue business as proprietor of a distilled spirits plant who would otherwise be required to give more than one bond under the provisions of subsections (b) (other than indemnity bonds), (c), and (d), shall, in lieu thereof, give bond in a penal sum equal to the combined penal sums which would have been required under such subsections; but in no case shall the combined operations bond be in a penal sum in excess of $200,000 if all operations are to be conducted on bonded premises, or in excess of $250,000 for the distilled spirits plant. Bonds given under this paragraph shall contain the terms and conditions of the bonds in lieu of which they are given. "(2)

DISTILLED SPIRITS PLANTS AND ADJACENT BONDED WINE

CELLARS.—Any person intending to commence or continue business as proprietor of a bonded wine cellar and an adjacent distilled spirits plant qualified for the production of distilled spirits shall, in lieu of the bonds which would otherwise be required under the provisions of subsection (b) (other than indemnity bonds), (c), and (d), and section 5354 (other than supplemental bonds to cover additional liability arising as a result of deferral of payment of tax), give bond in a penal sum equal to the combined penal sums which would have been required under such provisions; but in no case shall the combined operations bond be in a penal sum in excess of $150,000 if the distilled spirits plant is qualified solely for the production of distilled spirits, in excess of $250,000 if the distilled spirits plant is qualified only for production and bonded warehousing or for production and rectification and bottling, or in excess of $300,000 for the distilled spirits plant and bonded wine cellar. Bonds given under this paragraph shall contain the terms and conditions of the bonds in lieu of which they are given.

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