1352
PUBLIC LAW 85-859-SEPT. 2, 1958
[72 S T A T.
"(f) BLANKET BONDS.—The Secretary or his delegate may by regulations authorize any person (including, in the case of a corporation, controlled or wholly owned subsidiaries) operating more than one distilled spirits plant in a geographical area designated in regulations prescribed by the Secretary or his delegate to give a blanket bond covering the operation of any two or more of such plants and any bonded wine cellars which are adjacent to such plants and which otherwise could be covered under a combined operations bond as provided for in subsection (e)(2). The penal sum of such blanket bond shall be calculated in accordance with the following table: Requirement for Penal Sum of Blanket Bond 100% 70% 50% 35% 25%
"Total Penal Sums as Determined under Subsections (b), (c), (d),and (e) F i r s t $300,000 or any part thereof Next $300,000 or any part thereof Next $400,000 or any part thereof Next $1,000,000 or any part thereof All over $2,000,000
Bonds given under this subsection shall be in lieu of the bonds required under subsections (b) (other than indemnity bonds), (c), (d), and (e), as the case may be, and shall contain the terms and conditions of such bonds. "(g)
26 USC 7510.
LIABILITY
UNDER
COMBINED
OPERATIONS
AND BLANKET
BONDS.—The total amount of any bond given under subsection (e) or (f) shall be available for the satisfaction of any liability incurred under the terms or conditions of such bond. "SEC. 5174. WITHDRAWAL BONDS. " (a) REQUIREMENTS.—No distilled spirits, other than distilled spirits withdrawn under section 5214 or section 7510, shall be withdrawn from bonded premises except on payment of tax unless— "(1) the proprietor of the bonded premises has furnished such bond (in addition to that required in section 5173) to secure payment of the tax on such spirits, under such regulations and conditions, and in such form and penal sum, as the Secretary or his delegate may prescribe; or "(2) the proprietor of a distilled spirits plant authorized to rectify or bottle distilled spirits has— " (A) made application to the Secretary or his delegate to withdraw such spirits and has assumed liability at the receiving plant for payment of the tax thereon; '•(B) furnished bond (in addition to any bond required by section 5173) to secure payment of the tax on such spirits, under such regulations and conditions, and in such form and penal sum, as the Secretary or his delegate may prescribe; and " (C) complied with such other requirements as the Secretary or his delegate may by regulations prescribe. "(b) RELEASE OF OTHER BONDS.—When a bond has been filed under subsection (a) and distilled spirits have been withdrawn from bonded premises thereunder, bonds of proprietors covering operations on bonded premises, and bonds given under prior provisions of internal revenue law to cover similar operations, shall no longer cover liability for payment of the tax on such spirits. "SEC. 5175. EXPORT BONDS. " (a) REQUIREMENTS.—No distilled spirits shall be withdrawn from bonded premises for exportation without payment of tax unless the exporter has furnished bond to cover such withdrawal, under such regulations and conditions, and in such form and penal sum, as the Secretary or his delegate may prescribe.
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