Form Cigbond - Cigarette Wholesaler'S Bond (Page 2 of 2) in pdf

RULES AND REGULATIONS OF THE WYOMING DEPARTMENT OF REVENUE

Chapter IV, Section 4(b) Bond.

(I) A cash or surety bond equal to the face value of the maximum purchase of stamps is required of

the wholesaler purchasing cigarette stamps with payment other than cash.

INSTRUCTIONS FOR EXECUTING BONDS

1. If the principal is a CORPORATION, the signature of the President or Vice President must appear,

attested by the Secretary or Assistant Secretary. If signed by any other officer or person, certified evidence

of the authority of such officer or person to sign for and on behalf of the principal must be submitted with

the bond. Subscript to signature space should indicate the corporate capacity or title of signatory for

principal, e.g., President or Vice President.

2. If the principals are PARTNERS, their individual names shall appear in the body of the bond with the

recital that they are doing business as a partnership, e.g., John Doe and James Jones, a partnership, doing

business as Hub Trucking Company. However, the signature of a partner is sufficient to bind the

partnership. If two or more individuals jointly own the business, but not as partners, the signatures of all

such owners are necessary.

3. If the business is a SOLE PROPRIETORSHIP, the name of the owner should appear in the body of the

bond with a recital thereafter of the trade name (if any) of the business, e.g., John Doe, doing business as

Hub Transportation. If there is no trade name, the sole proprietorship should be shown as “John Doe.”

4. The nature of the principal as a legal entity should be clearly shown on the bond, i.e., sole

proprietorship, partnership or corporation. Designation of the principal by commercial or trade name only

is to be avoided (unless it is the actual name of a corporation). A commercial or trade name should only be

used in conjunction with the actual names of the owners of the business, e.g., individual owners,

individuals comprising the partnership in the manner indicated in instruction Nos. 2 and 3.

5. The SURETY on the bond must be a surety company licensed to do business in Wyoming. The bond

must be countersigned by the surety’s resident agent with his address indicated below the signature.

Persons signing should sign their names in the same identical way as they appear on the Power of

Attorney.

6. The SURETYCOMPANY executing the bond shall attach a duly executed Power of Attorney (or a

recently certified copy thereof) showing the authority of the person signing as agent for the surety

company, unless such person is the President or Vice President of the surety company. The Power of

Attorney must have been executed no earlier than 6 months prior to the effective date of the bond. The

copy of the Power of Attorney may be certified by any other qualified person such as a notary

public, but the Power of Attorney must be certified by the Secretary of the corporate surety.

7. The impress of the surety’s corporate seal must be affixed to (a) the bond near the surety’s execution

and (b) the certification of the attached Power of Attorney near the surety’s execution. Facsimile seals will

be accepted on the bond but are not acceptable on the certification of the attached Power of Attorney.

8. The Power of Attorney must be acknowledged within six months from the effective date of the bond

and must show that authorization is still in effect and not revoked.

Form Cigbond - Cigarette Wholesaler'S Bond Page 2