N.J.S.A. 54:40A-13 — Credit sales of revenue stamps

54:40A-13. Credit sales of revenue stamps The director, in his discretion, may permit a licensed distributor to pay for revenue stamps within thirty days after the date of purchase; provided, a bond or an irrevocable letter of credit, issued by a State or federally chartered bank, that is satisfactory to the director in an amount not less than the sales price of such stamps shall have been filed with the director. The bond, conditioned to secure payment for such stamps, shall be executed by the licensed distributor, as principal, and by a corporation duly authorized to engage in business as a surety company in the State of New Jersey, as surety. L.1948, c. 65, p. 160, s. 403. Amended by L.1948, c. 108, p. 567, 2; L.1983, c. 3, s. 1, eff. Jan. 17, 1983.

This is the verbatim text of N.J.S.A. 54:40A-13, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.