§ 31-36-3 - Bond of a motor fuel distributor. - Rhode Island Statutes

SECTION 31-36-3

   § 31-36-3  Bond of a motor fueldistributor. – (a) Before the division of taxation shall register a distributor as provided in§ 31-36-2, the distributor shall deposit with the Division of Taxation asurety bond running to the general treasurer and in form and substance approvedby the division, in amount based upon an estimate of the average annual tax tobe paid by the distributor as set forth in subsection (b) of this section, withany surety if any that the division may require, conditioned to pay any finaljudgment obtained against the principal named in the bond for failure to payany and all taxes assessed under the provisions of this chapter.

   (b) SEE THE BOOK FOR THE PROPER TABLE.

   (c) In no event shall the amount of the bond in this sectionexceed five million dollars ($5,000,000).