Section 45IAC10-4-8. Bond increases; financial statement

   (a) Periodically, the administrator may review a licensee's account to determine whether the licensee's bond on file is in an amount large enough to adequately cover the licensee's tax liability.

  (b) If the administrator determines that the licensee's financial condition warrants the bond on file to be in a larger amount, the administrator may require the licensee to furnish such bond provided that such bond satisfies the requirements of section 7 of this rule.

  (c) If the licensee fails to provide a bond within the time period prescribed by the administrator, the licensee may be subject to license cancellation in the same manner as prescribed by section 14 of this rule.

  (d) The administrator may require an audited financial statement. (Department of State Revenue; Reg 6-6-2.1-409(010); filed Jan 3, 1983, 2:29 p.m.: 6 IR 300; errata, 6 IR 1250; filed Apr 30, 1986, 3:34 p.m.: 9 IR 2182; filed Dec 18, 2015, 3:40 p.m.: 20160113-IR-045140518FRA)