Or. Admin. R. 150-323-0140 - Deferred Payment Purchases; Bond Requirement; Credit Authorization; Return of Bond

(1) To purchase tax stamps on a deferred payment basis a distributor must file an application with the Department of Revenue on a form prescribed by the department.

(2) A security bond must accompany the application and is to be deposited with the department as provided in ORS 323.110, or the application must be accompanied by cash or securities to be deposited with the State Treasurer as provided as provided in ORS 323.120. The amount of the bond, cash or security deposited will be the fixed amount of deferred payment purchases the distributor may make in any one calendar month.

(3) If a distributor's license is revoked by the department, or is withdrawn by the licensee, the department will direct the State Treasurer to return any security that may be held by the State Treasurer under ORS 323.120, to the former licensee after the department has determined that all liabilities owed by the distributor to the department have been paid in full.

Notes

Or. Admin. R. 150-323-0140

6-66; 9-71; RD 8-1984, f. 12-5-84, cert. ef. 12-31-84; REV 6-1999, f. 12-1-99, cert. ef. 12-31-99; REV 6-2004, f. 7-30-04, cert. ef. 7-31-04; Renumbered from 150-323.175, REV 72-2016, f. 8-15-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 323.180