Okla. Admin. Code § 710:65-9-2
Current through Vol. 42, No. 7, December 16, 2024
Section 710:65-9-2 - Commission may require security from vendor(a) In order to assure payment of the sales tax due, the Commission may require that sufficient security be deposited with the Commission.(1) When required, security may be in the form of:(A) corporate surety bond furnished by a surety licensed to do business in Oklahoma,(B) United States savings or Treasury bonds so registered that the proceeds will be made available to the Commission in the event that the necessity of recovering unpaid taxes arises,(D) in any other form agreed upon by the Commission and the person required to remit the tax.(2) The amount of security furnished by Group One Vendors who become delinquent shall not be more than three times the average quarterly liability. The Commission, from time to time, may increase or decrease the amount of security but in no event shall such increase result in total security in excess of the limitation stated in this paragraph.(b) The Commission may remove the permit of any vendor who fails to furnish bond or security within ten (10) days after the mailing of the notice requiring same. [See: 68 O.S. § 1368 ]Okla. Admin. Code § 710:65-9-2
Amended at 11 Ok Reg 3521, eff 6-26-94