61 Pa. Code § 39.4. Surety bond or other security.

§ 39.4. Surety bond or other security.

(a)  At the time of filing for a transient vendor certificate, a transient vendor shall file a surety bond with the Department which is subject to approval by the Department. In lieu of the surety bond, the Department may accept other equivalent security, such as letters of credit or cash.
(b)  The bond or other security shall be in the amount of $500 and shall be executed by the transient vendor as the principal and by a corporate surety authorized to engage in business in this Commonwealth.
(c)  The bond or other security may be reduced or eliminated entirely if either of the following applies:
   (1)  Upon review of the annual application, the Department finds that there has been at least a 12-month period of compliance by the transient vendor with Article II of the TRC (72 P. S. § §  7201—7282). In making this determination, the Department will consider the period of compliance prior to passage of sections 201(t), 248 and 248.1—248.5 of the TRC (72 P. S. § §  7201(t), 7248 and 7248.1—7248.5), and will consider, among other factors, the timely filing and remittance of sales tax, the maintenance of records and the displaying of licenses, if applicable.
   (2)  If the transient vendor provides the license number of a promoter who has notified the Department of a show, under section 248.6(a) of the TRC (72 P. S. §  7248.6(a)).

Source

   The provisions of this §  39.4 adopted June 29, 1984, effective June 30, 1984, 14 Pa.B. 2266; amended April 24, 1987, effective April 25, 1987, 17 Pa.B. 1665. Immediately preceding text appears at serial page (91029).

Cross References

   This section cited in 61 Pa. Code §  39.2 (relating to registration); 61 Pa. Code §  39.3 (relating to transient vendor certificates); and 61 Pa. Code §  39.4a (relating to application of cash security to liability of transient vendors).

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