Tennessee Statutes
§ 67-3-612 — Bond increase
Tennessee·Title 67
(a)If the commissioner determines that the amount of the existing bond or cash deposit is insufficient to ensure payment to the state of taxes, fees, penalty and interest for which the licensee is or may become liable, the licensee shall, upon written demand from the commissioner, file a new bond or increase the cash deposit. The commissioner shall allow the licensee at least fifteen (15) days to secure the increased bond or cash deposit.
(b)The new bond or cash deposit must meet the requirements set forth in this chapter.
(c)If the new bond or cash deposit required under this section is unsatisfactory, the commissioner shall cancel the licensee's certificate.
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Legislative History
Acts 1997, ch. 316, § 1; T.C.A., § 67-3-1712.
Nearby Sections
15
§ 67-1-1001
Part definitions§ 67-1-1002
Grounds§ 67-1-1004
Ineffective against bona fide purchaser§ 67-1-1005
Duty to back assess or reassess - Citation§ 67-1-1006
Obtaining evidence§ 67-1-1008
Penalty and costs§ 67-1-1011
Records and reports§ 67-1-103
Study of tax laws - Report§ 67-1-104
Tax administration fund