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Electronic Code of Federal Regulations

e-CFR data is current as of February 21, 2020

Title 27Chapter ISubchapter BPart 40Subpart F → §40.101


Title 27: Alcohol, Tobacco Products and Firearms
PART 40—MANUFACTURE OF TOBACCO PRODUCTS, CIGARETTE PAPERS AND TUBES, AND PROCESSED TOBACCO
Subpart F—Changes After Original Qualification of Manufacturers of Tobacco Products


§40.101   Fiduciary successor.

If an administrator, executor, receiver, trustee, assignee, or other fiduciary, is to take over the business of a manufacturer of tobacco products, as a continuing operation, such fiduciary shall, before commencing operations, make application for permit and file bond as required by subpart E, of this part, furnish certified copies, in duplicate, of the order of the court, or other pertinent documents, showing his appointment and qualification as such fiduciary, and make a commencing inventory, in accordance with the provisions of §40.201: Provided, That where a diagram has been furnished by the predecessor, in accordance with the provisions of §40.69, the successor may adopt such diagram if it is currently complete and accurate. However, where a fiduciary intends only to liquidate the business, qualification as a manufacturer of tobacco products will not be required if he promptly files with the appropriate TTB officer a written statement to that effect, in duplicate, together with an extension of coverage of the predecessor's bond, executed by the fiduciary and the surety on such bond, in accordance with the provisions of §40.137.

(72 Stat. 1421, 1422; 26 U.S.C. 5711, 5712, 5721)

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