Section 45IAC8.1-1-25. Bonding of registrant

   (a) Upon application for a registration certificate, a distributor must file a bond in a form and with a surety approved by the department of state revenue.

  (b) The department may institute a suit upon such bond for the entire amount of the liability and costs under any of the following circumstances:

(1) A registrant is convicted of a violation of any of the provisions of IC 6-7-1.

(2) The registrant's certificate is revoked and no review is requested of the order of the revocation.

(3) If on review of a revocation, the decision is adverse to the registrant, and the registrant refuses to pay any taxes, damages, fines, penalties, or costs adjudged against him or her by reason of a violation of any of the provisions of IC 6-7-1.

Any suit upon the bond shall be in addition to any other remedy provided for in IC 6-7-1. (Department of State Revenue; Reg. 6-7-1-16(010); filed Aug 4, 1982, 3:02 p.m.: 5 IR 1803; filed Jan 12, 2015, 12:14 p.m.: 20150211-IR-045140146FRA)