Indiana § 6-6-1.1-408 Amount of bond, letter of credit, or cash deposit insufficient; new
requirements; cancellation of certificate

Indiana Statutes

§ 6-6-1.1-408 — Amount of bond, letter of credit, or cash deposit insufficient; new requirements; cancellation of certificate

Indiana § 6-6-1.1-408

Art. 6MOTOR FUEL AND VEHICLE EXCISE TAXES

Ch. 1.1Gasoline Tax

This text of Indiana § 6-6-1.1-408 (Amount of bond, letter of credit, or cash deposit insufficient; new requirements; cancellation of certificate) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-6-1.1-408 (2026).

Text

(a)If the administrator reasonably determines that the amount of the existing bond, letter of credit, or cash deposit is insufficient to insure payment to the state of the tax and any penalty and interest for which the distributor is or may become liable, then the distributor shall upon written demand of the administrator file a new bond or letter of credit, or increase the cash deposit. The administrator shall give the distributor at least fifteen (15) days to secure the new bond or letter of credit or make the increased cash deposit.

(b)The new bond, letter of credit, or cash deposit must meet the requirements set forth in section 406 of this chapter.

(c)If the new bond, letter of credit, or cash deposit required under this section is unsatisfactory, the administrator shall cancel the

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(a) If the administrator reasonably
determines that the amount of the existing bond, letter of credit, or cash
deposit is insufficient to insure payment to the state of the tax and any
penalty and interest for which the distributor is or may become liable,
then the distributor shall upon written demand of the administrator file
a new bond or letter of credit, or increase the cash deposit. The
administrator shall give the distributor at least fifteen (15) days to
secure the new bond or letter of credit or make the increased cash
deposit.
(b) The new bond, letter of credit, or cash deposit must meet the
requirements set forth in section 406 of this chapter.
(c) If the new bond, letter of credit, or cash deposit required under
this section is unsatisfactory, the administrator shall cancel the
distributor's license certificate.
As added by Acts 1979, P.L.79, SEC.1. Amended by
P.L.77-1985, SEC.2; P.L.97-1987, SEC.6; P.L.69-1991,
SEC.5.