HAR §18-245-11. Deferred-payment purchase; bonds

(a) Every licensee requesting payment for stamps on a deferred-payment basis shall execute a bond with a surety company licensed in this State in an amount to be determined by the department. The department may increase or reduce the amount of bond at any time, but in no event shall the amount of the bond be greater than one hundred per cent of the maximum amount of deferred- payment purchases allowed. (b) When a licensee fails to make a timely payment for a deferred-payment purchase, the department may immediately file a claim for execution of the bond with the appropriate surety company. [Eff 12/16/2000](Auth: HRS §§245-27, 245-42)(Imp: HRS §245-27) §18-245-12 Purchase of stamps through a designated bank; method of payment; bonds for returned business checks; accounts at the designated bank. Licensees shall purchase stamps through a bank designated to sell stamps by the department. Licensees may pay for the stamps with cash, certified check, cashiers check or business check. Upon return of a business check for any reason, the licensee shall be assessed a fee as determined by the bank. Upon return of a business check for insufficient funds, the licensee shall be required to execute a bond with a surety company licensed in this State in an amount to be determined by the bank. The designated bank may require licensees purchasing stamps to open an account with the bank unless an account is already established at the bank. [Eff 12/16/2000] (Auth: HRS §§245-24, 245-42)(Imp: 42 HRS §245-24) HRS §245-11 HRS §245-25 HRS §245-26 HRS §245-27 HRS §245-24 CIGARETTE TAX STAMPING §18-245-14 245- 9 (Unofficial Compilation as of 12/31/2025)