Termination of bonds.

§ 24.156 Termination of bonds. A bond prescribed in § 24.146 may be terminated as to future liability pursuant to application by the surety as provided in § 24.157; pursuant to approval of a superseding bond; upon receipt of notification from the principal that the business has been discontinued and all wine and spirits have been removed from the bonded wine premises as provided in § 24.140(b); pursuant to an application by an existing proprietor who becomes exempt from bond requirements as provided in § 24.160; or in the case of a tax deferral bond, the termination will be issued upon receipt of written notification from the principal that removals of wine requiring a tax deferral bond have been discontinued. (Sec. 201, Pub. L. 85–859, 72 Stat. 1379, as amended (26 U.S.C. 5354)) (Approved by the Office of Management and Budget under control number 1512–0058) [T.D. ATF–299, 55 FR 24989, June 19, 1990, as amended by T.D. TTB–146, 82 FR 1125, Jan. 4, 2017]