Internal Revenue Code:Sec. 5176. New or renewed bonds

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle E - Alcohol, Tobacco, and Certain Other Excise Taxes
       CHAPTER 51 - DISTILLED SPIRITS, WINES, AND BEER
        Subchapter B - Qualification Requirements for Distilled Spirits
              Plants
       

Statute

    Sec. 5176. New or renewed bonds
 
    (a) General
      New bonds shall be required under sections 5173 and 5175 in case
    of insolvency or removal of any surety, and may, at the discretion
    of the Secretary, be required in any other contingency affecting
    the validity or impairing the efficiency of such bond.
    (b) Bonds
      If the proprietor of a distilled spirits plant fails or refuses
    to furnish a bond required under paragraph (1) of section 5173(a)
    or to renew the same, and neglects to immediately withdraw the
    spirits and pay the tax thereon, the Secretary shall proceed to
    collect the tax.
 

Sources

    (Added Pub. L. 85-859, title II, Sec. 201, Sept. 2, 1958, 72 Stat.
    1353; amended Pub. L. 94-455, title XIX, Sec. 1906(b)(13)(A), Oct.
    4, 1976, 90 Stat. 1834; Pub. L. 96-39, title VIII, Sec. 807(a)(16),
    July 26, 1979, 93 Stat. 282.)
 

Miscellaneous

                              PRIOR PROVISIONS
      A prior section 5176(c), act Aug. 16, 1954, ch. 736, 68A Stat.
    629, consisted of provisions similar to those comprising subsec.
    (a) of this section, prior to the general revision of this chapter
    by Pub. L. 85-859.
      Prior section 5176(a), (b), (d), (e), related to distiller's
    bond: form and approval; additional bond; exemption from survey
    requirements; and cross references, prior to the general revision
    of this chapter by Pub. L. 85-859. See sections 5173(a), (b),
    5174(a)(1) and 5177 of this title.
      Provisions similar to those comprising this section were
    contained in prior section 5232(c), act Aug. 16, 1954, ch. 736, 68A
    Stat. 643, prior to the general revision of this chapter by Pub. L.
    85-859.
                                 AMENDMENTS
      1979 - Subsec. (a). Pub. L. 96-39, Sec. 807(a)(16)(A), struck out
    '', 5174,'' after ''sections 5173''.
      Subsec. (b). Pub. L. 96-39, Sec. 807(a)(16)(A), substituted
    reference to paragraph (1) of section 5173(a) for reference to
    section 5173(c) and struck out provisions relating to failure or
    refusal of the proprietor of a distilled spirits plant to withdraw
    any spirits from storage on bonded premises before the expiration
    of the time limited on the bond and pay the tax thereon.
      1976 - Pub. L. 94-455 struck out ''or his delegate'' after
    ''Secretary'' wherever appearing.
                      EFFECTIVE DATE OF 1979 AMENDMENT
      Amendment by Pub. L. 96-39 effective Jan. 1, 1980, see section
    810 of Pub. L. 96-39, set out as a note under section 5001 of this
    title.
                CONTINUATION OF DISTILLER'S NOTICE AND BOND
      Authority to waive requirements for filing notice and executing
    new bond on May 1, 1959, if distiller and surety have executed
    consent to continuation of the terms of existing bond to cover
    operations from May 1, 1959 to June 30, 1959, see section 210(f) of
    Pub. L. 85-859, set out as a note under section 5175 of this title.