The Florida Senate

210.08  Bond for payment of taxes.--Each dealer, agent, or distributing agent shall file with the division a surety bond, certificate of deposit, or irrevocable letter of credit acceptable to the division in the sum of $10,000 as surety for the payment of all taxes; provided, however, that where in the discretion of the division the amount of business done by the dealer, agent, or distributing agent is of such volume that a bond, certificate of deposit, or irrevocable letter of credit of less than $10,000 will be adequate to secure the payment of all taxes assessed as authorized by the cigarette tax law, the division may accept a bond, certificate of deposit, or irrevocable letter of credit in a lesser sum than $10,000, but in no event shall it accept a bond, certificate of deposit, or irrevocable letter of credit of less than $1,000, and it may at any time in its discretion require any bond, certificate of deposit, or irrevocable letter of credit in an amount less than $10,000 to be increased not to exceed $10,000.

History.--s. 6, ch. 22645, 1945; s. 1, ch. 26320, 1949; s. 3, ch. 57-169; ss. 16, 35, ch. 69-106; s. 7, ch. 79-11; s. 32, ch. 2002-299.